Report on the Result of Warrant Exercise ESOP-W1

BackNov 21, 2006

November 20, 2006

RE: Report on the Result of Warrant Exercise (ESOP-W1)

To: The President The Stock Exchange of Thailand

Referring to the allotment of the warrant of Asian Property Development Public Company Limited to Employees of the Company and its Subsidiaries under ESOP scheme No. 1 totaling 34,000,000 units at the exercise ratio at 1 warrant per 1 ordinary share at price of Baht 3.60 per share, the result of the 4th exercise on November 20, 2006 is as following:

1. Results of the exercise of warrants

- Number of exercising warrant-holders 80 persons
- Number of exercised warrants 9,293,100 units
- Warrants remaining after this exercise 23,089,800 units
- Number of ordinary shares issued for this exercise 9,293,100 shares
- Remaining number of ordinary shares reserved for the exercise of warrants 23,089,800 shares

2. The amount of money received from the shares issued through the exercise of warrants was 33,455,160 Baht

Please be informed accordingly.

Yours sincerely,

 

Mr. Pichet Vipavasuphakorn
Managing Director