19th March, 2007
Subject To report the resolution of the Board of Directors' Meeting No. 5/2007
Attention The President, the Stock Exchange of Thailand
The Board of Directors' Meeting No. 5/2007 of Asian Property Development PLC., held on 19th March, 2007 between 16.30 p.m. to 17.00 p.m. at Ocean Tower 1, 18th Floor, No. 170/57, Ratchadapisek Road, Klongtoey, Bangkok has resolved to set up a new company and details are as following.
| - Company's Name | Libra Holdings Company Limited |
| - Registered Capital | 100,000 Baht (One hundred thousand only) |
| - Par Value | 100 Baht/share (One hundred Baht) |
| - Shareholders | Asian Property Development PLC holds 99.99% of shares |
| - Objective | For Property Development Business |
For your acknowledgement
Yours Faithfully,
Asian Property Development Plc.
Mr.Pumipat Sinacharoen
Senior Vice President