The shareholder restructuring AP and its subsidiaries

BackMay 16, 2007

May 16, 2007

Subject : To report the shareholder restructuring Asian Property Development Plc. and its subsidiaries

Attention : President, The Stock Exchange of Thailand

Asian Property Development Plc. (the "Company") would like to inform that the Company has changed its direct holding of total common shares of Citi Smart Services Co. Ltd., which provides the property management and after-sale services to AP's clients, effectively on 16 May 2007. Formerly, the total common shares of Citi Smart Services Co., Ltd. were totally held by Asian Property Co., Ltd. The Company currently holds 100% of common shares in Asian Property Co., Ltd.

The purpose of the transaction is to clear the shareholding structure of the Company and its subsidiaries. Therefore, this transaction would not be considered as the asset acquisition of listed company.

For your acknowledgement

 

Yours faithfully,

 

Mr.Pichet Vipavasuphakorn
Managing Director
Asian Property Development PCL