The date for exercising of Warrants (AP-W1)

BackSep 01, 2006

Date: September 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 18th exercise date will be on
    September 29, 2006.  The warrantholders who would like to exercise
    warrants can submit an exercise notice to the Company from September
    11, 2006 to September  28, 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