Dividend payment and the date of Shareholders' Meeting

BackMar 01, 2006

1st March, 2006
       

        Subject           To report the resolution of the Board of Directors'
        Meeting No. 3/2006
        Attention         The President, the Stock Exchange of Thailand
       

        The Board of Directors' Meeting No. 3/2006 of  Asian Property
        Development PLC., held on  1st March, 2006 between 11.05 a.m. to 12.05
        p.m. at Ocean Tower 1, 18th  Floor, No. 170/57
        Rachadapisek Road, Klongtoey, Bangkok has resolved as follows:
       

        -Propose for approval from Shareholders' Meeting for Dividend Payment
        for the year 2005 at 0.14 Baht/Share, the closing date of share
        register book to determine the right to receive the Dividend shall be
        from May 2, 2006, at 12.00 AM.  The dividend payment date will be on
        May 16, 2006;
       

        -Propose for approval from Shareholders' Meeting the reappointment of
        directors as follows:
        Mr.      Anuphong      Assavabhokhin
        Mr.      Pichet      Vipavasuphakorn
        Mr.      Chaiyarat      Thampeera
        Mr.      Vilas      Pilakasiri;
       

        -Propose for approval from Shareholders' Meeting to pay director fees
        for the year 2006 (same figures as last year) as follows:
        President                        30,000      Baht per month
        Chairman of Audit Committee            25,000      Baht per month
        Director or Member of Audit Committee      20,000      Baht per month
        and propose for approval from Shareholders' Meeting to pay Director's
        Bonus for the year 2005 at  125,000 Baht/Director;
       

        -Propose for approval from Shareholders' Meeting on the appointment of
        Mr. Ruth Chaowanagawi, CPA (Thailand) License No. 3247, and/or  Mrs.
        Saifon Inkaew, CPA (Thailand) License No. 4434, and/or  Miss Thipawan
        Nananuwat, CPA (Thailand) License No. 3459, of Ernst & Young Office
        Limited to be the company's auditor for the year 2006 with the
        auditor's fees of 1,130,000 Baht, and 1,670,000 Baht for the company's
        subsidiaries;
       

        -Propose for approval from Shareholders' Meeting to issue and offer
        for sale of debenture of not exceeding Baht 1,100,000,000 or in any
        other currency equivalent thereto whereby such debentures may be
        subordinated and/or unsubordinated type, with debentureholders
        representative and/or without debentureholders representative, secured
        and/or unsecured or any other type of debentures dominated in Thai
        Baht and/or any other currency with the term of no less than 3 years,
        the offer for sale of which may be made to local investors and/or
        foreign investors, by way of public offering and/or private placement
        and/or to institutional investors having qualification as specified in
        the notification of the Securities and Exchange Commission, and
        entirely or partially within one or several times offering, as the
        Company deems appropriate .
        In this regard, the Board of Directors and/or any person(s) assigned
        by the Board should have the power to determine any details in respect
        of such debentures, i.e. type, security, currency to be denominated,
        amount, term, par value, offering price, rate of interest, early
        redemption right of the Company (Call Option), early redemption right
        of debentureholders (Put Option), offering procedure, and issuing and
        offering period as the Board and/or such assigned person(s) may deem
        appropriate by taking into account the circumstances for the time
        being, and that the Board and/or such assigned person(s) should also
        have power to appoint the debentureholders representative, registrar,
        distributor, underwriter, advisor and/or any other persons needed to
        be involved, including to agree on any terms and conditions of the
        relevant agreements and/or documents, to prepare, provide, furnish
        and/or file any documents and information, to register or list such
        debentures on the Thai Bond Dealing Center or any other secondary
        market, to prescribe any rules, regulations, conditions and other
        details in respect there of and to proceed with any other acts and
        things for the accomplishment of the aforementioned objectives under
        the relevant rules, regulations, notifications and laws;
       

        -Set the date for the Ordinary General Meeting of Shareholders for the
        Year 2006 on April 21, 2006, the agenda will be :
        1      Certify the minutes made at Annual General Meeting of
        Shareholders 2005.
        2      Consider the Company's 2005 operating result and approve the
        Company's Balance Sheet, Profit and Loss Statements as at 31st
        December,2005.
        3      Consider the dividend payment for 2005  operating result;
        4      Reappoint new directors to succeed these completing their
        terms;
        5      Appoint Auditor and approve  auditor's fees for 2006;
        6      Consider and approve the Director's fees and Director's bonus;
        7      Consider and approve the Company's issuance and offer for sale
        of debenture of not exceeding Baht 1,100,000,000;
        8      Consider other issues (if any).
       

        -The closing date of share register book to determine the right to
        attend the Ordinary General Meeting of Shareholders shall be from
        March 31, 2006 at 12:00 a.m. until the conclusion of the shareholders'
        meeting.
       

        For your acknowledgement
        Yours Faithfully,
        
        Asian Property Development Plc.
       

        Mr.Pichet  Vipavasuphakorn
        
        Managing Director