SET Announcements

July 8, 2004 To: President The Stock Exchange of Thailand Re: Resolution of the BOD's Meeting regarding the investment in Playground Store Company Limited Noble Development Public Company Limited (the "Company") would like to inform you that the Board of Directors' Meeting held on July 8, 2004 passed the resolution regarding the investment in Playground Store Company Limited by as follows: 1. Date of Transaction : July 8, 2004 2. Related Parties Name Relationship with Listed Company Buyer : Noble Development Public Company Limited Seller: Playground Store Company Limited -None- 3. General Attribute of Transaction - Transaction Type : Purchase of Ordinary Shares of Playground Store Company Limited - Transaction Size : Ordinary shares of 42,500 shares at 100 bath/share (equal to par value of share), totaling Baht 4,250,000 which equal to 85.00% of Playground Store Company Limited's registered capital - Basis Used to Determine Transaction Size : Value of acquired assets compare to total assets of the Company and its' subsidiaries 4. Details of Acquired assets : Ordinary shares - Issuer Name : Playground Store Company Limited - Nature of Business : Core business - property rental, shopping center - Registered Capital : Baht 5,000,000 - Paid-up Capital : Baht 5,000,000 (first payment 25.00% of registered capital) - Number of Shares Acquired : 42,500 Shares - Share Price : Bath100 - Proportion of Shares Holding Before Acquisition : -None- - Proportion of Shares Holding After Acquisition : 85.00% - Board of Directors : 1. Mr.Kitti Thanakitamnuay 2. Mr.Thongchai Busrapan 3. Mr.Sitti Leelakasamelerk 4. Mr.Vicharn Busrawong 5. Mr.Thakonkiat Viravan 6. Miss Yodphet Sudsawad -Major Shareholders Name % Holding Noble Development Public Company Limited 85% Propagandist Company Limited 15% 5. Value of Consideration : Baht 4,250,000 Condition of payment : Cash 6. Value of Acquired Asset : Baht 4,250,000 7. Basis Used to Determine Value of Consideration : Par value of ordinary share 8. Expected Return to Listed Company : Expand business activity 9. Source of Fund : The Company's internal fund The said investment does not meet the rules concerning the acquisition and disposition of assets and connected transaction of listed company. Please be informed accordingly. Sincerely, Sitti Leelakasamelerk Director