| To: The President The Stock Exchange of Thailand With reference to TICON's Board of Directors' Meeting No.5/2005 regarding the establishment of TICON Logistics Park Co., Ltd. for the development of a logistics park on 405-0-43 rai of land, located on Bangna-Trad, Km.39-40, the Company would like to announce the progress on the establishment of the said company as follows: 1.The registration of TICON Logistics Park Co., Ltd. is still in the process. It is expected to be completed by mid-July 2005. 2.TICON's Board of Directors' Meeting No. 6/2005, held on June 23, 2005, has resolved to change initial registered capital of TICON Logistics Park Co., Ltd. from Baht 100 million to Baht 1,000 million. Initial paid-up capital will be Baht 250 million. In the first stage, TICON will hold a 99.99 percent stake in the said company. 3.TICON's Board of Directors' Meeting No. 6/2005, has resolved to dispose up to 40 percent of TICON Logistics Park's shares, of which 99.99 percent will be initially held by TICON, to investors with potential contribution. At present, the Company does not have information whether the said potential partners will be the Company's connected persons. In addition, the value of the transactions cannot be determined at this stage. The Company will strictly follow the SET's Rules and Procedures and Disclosure of Connected Transactions of Listed Companies and Rules and Procedures and Disclosure of Information and Other Acts of Listed Companies Concerning the Acquisition and Disposition of Assets, 2004, as soon as all aspects are clear. Further progress in regard to TICON Logistics Park Co., Ltd. will be informed accordingly. Yours faithfully (Miss Lalitphant Phiriyaphant) Secretary to the Board of Directors |