The date for exercising of Warrants (AP-W1)

BackJun 01, 2006

Date: June 1 , 2006
   
    RE: The date for exercising of Warrants (AP-W1)
   
    Attn: Director and Manager
          The Stock Exchange of Thailand
   
      According to the allotment of the warrants (AP-W1), which could be
    exercised every three months, to the existing shareholders on August
    15, 2001,  please be informed that the 17th exercise date will be on
    June 30, 2006.  The warrantholders who would like to exercise warrants
    can submit an exercise notice to the Company from June 9, 2006 to June
    30, 2006 on the business days at 8.30 a.m. to 4.00 p.m.   The exercise
    ratio is 1 unit of warrant for 1.00165 ordinary shares at the price of
    Baht 1 each ( par value 1 baht ).  The contact person is:
   
    Mr. Opas Ruangrajitpakorn
    Finance Division, Asian Property Development Public Company Limited
    170/57, 18th Floor, Ocean Tower Building 1,Opposite  Queen Sirikit
    National Convention Center, Rachadapisek  Rd., Klongtoey, Bangkok  10110
    Tel. 0-2261-2518-22 Fax. 0-2261-2548-9
    
   
    For your acknowledgement.
   
   
    Yours faithfully,
   
   
    Mr. Pichet Vipavasuphakorn
    Managing Director