Report on the Result of Warrant Exercise ESOP-W1

BackMay 22, 2007

May 21, 2007

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 1.001 ordinary share at price of Baht 3.596 per share, the result of the 6th exercise on May 21, 2007 is as following:

1. Results of the exercise of warrants

- Number of exercising warrant-holders
32
persons
- Number of exercised warrants
1,312,600
units
- Warrants remaining after this exercise
19,044,450
units
- Number of ordinary shares issued for this exercise
1,313,912
shares
- Remaining number of ordinary shares
reserved for the exercise of warrants
19,197,750
shares

2. The amount of money received from the shares issued through the exercise of warrants was 4,724,827.55 Baht

Please be informed accordingly.

 

Yours sincerely,

 

Mr.Pichet Vipavasuphakorn
Managing Director