Approved Related Transaction

REF:THIP-SET 031/2549 10th May, 2006 Subject: Approved the Business Transaction to Rent Premise and Services as Office less than 3 Years Term Attention: Managing Director, SET As Thantawan Industry Public Co.,Ltd. (THIP) had held the Board of Directors' meeting, no.3/2006 on Wednesday, May 10th, 2006, the Board of Directors approved the business transaction to rent premise and services as office less than 3 years term, the details are as follows:- - Date of Transaction : 1st July 2006 - 30th June 2009 - Related Party : Suntowers Company Limited (ST), a lessor for premise and services, whereas Sunflowers Enterprise Company Limited is a major shareholders jointly have management team with THIP namely are 1. Mr. Phietoon Trivijitkasem as the THIP's Chairman also take a title of Director of ST. 2. Mr.Huang Kuan-Chiun as the THIP's Director and also take a title of Director of ST. 3. Mrs.Pojanard Phanaskhao as the THIP's Director and also take a title of Director of ST. - Type : Making lease premise agreement in asset and services as office less than 3 years term with related party. - Total Value : Three-years term for lease premise agreement, total rental and services fee 9,792,000 Baht being consisted of monthly fee 340 Baht per squared meter, due of payment made at 5th of the month as deposit in advance - Remuneration Policy : Rental and service rate quoted on market price and relatively to rental fee for lessee in the same building and rental rate of neighbor. - Director of Connected transaction : They do not attend the meeting and have no vote right (Mr. Phietoon Trivijitkasem, Mr.Huang Kuan-Chiun, Mrs.Pojanard Phanaskhao) - Suggestion from Board of Director and Audit Committee : Approved the related transaction to lease premise and services as office less than 3 years at the total amount of 9,792,000 Baht (nine million, seven hundred and ninety-two thousand Baht) as mentioned in 3.1 and 3.7 since being a common business dealing with reasonable and fair price. In addition the transaction was the renewal of lease premise agreement after the expiry of three years term . There were only monlty fee for common area 10 baht addjustment per squared meter Please be informed accordingly. Very truly yours, (Mrs.Pojanard Phanaskhao) (Mr.Huang Kuan-Chiun) Authorized Director