| To :The President The Stock Exchange of Thailand TICON Industrial Connection Public Company Limited would like to announce that, on June 6, 2005, the Company has entered into land purchase agreement with Thai Asset Management Corporation ("TAMC"), details of which are as follows: 1.Signing date :June 6, 2005 2.Party : Seller - Thai Asset Management Corporation ("TAMC") Buyer - TICON Industrial Connection Public Company Limited 3.General characteristics of transaction :Type II, (according to the Notification of the Stock Exchange of Thailand Re: Disclosure of Information and Others Acts of Listed Companies Concerning the acquisition and Disposition of Assets.) of which transaction value is higher than 15 percent and lower than 50 percent of the Company's total assets The Company will send a letter to Shareholders in regard to the transaction within 21 days from today. 4.Details of assets : Land 405-0-43 rai located on Bangna-Trad Road, km. 39-40, near Suvarnabhumi Airport. The Company plans to develop the said land as a logistics center. 5.Total value of consideration : Baht 999 million Payment : 1) First installment of Baht 99.9 million, payable on signing date 2) Second installment of Baht 99.9 million, payable within 30 days after signing date 3) Net settlement of Baht 799.2 million, payable on transferred date (within 90 days of signing date) 6.Basis used in determination of the value of consideration :Minimum bidding set by the Seller and current sale/purchase price of land located in the same area 7.Expected benefits from the acquisition : Since there will be a lot of demand in warehouses located in Suvarnabhumi Airport surrounding area, the Company will benefit from development of a Logistics Center on the said land. 8.Source of fund : The Company's working capital and loan from financial institution (The Company is in the process of submission of application for long-term loan facility.) 9.Approval of transaction : Approved by the Board of Directors' Meeting No. 3/2005 held on March 24, 2005. 10. Board of Directors' opinion : The transaction will benefit the Company's business expansion. Please be informed. Yours faithfully (Miss Lalitphant Phiriyaphant) Company Secretary |