Report of the office building lease agreement / Changing in Managing director

Change of director(s) According to Thantawan Industry Public Company Limited (THIP) held Board of Directors' Meeting no.5/2010 on Wednesday 29th of September 2010, at 9.00 am. on the 32nd floor, Suntowers Building A address No.123 Vibhavadi - Rangsit Rd., Chomphon, Chatuchak, Bangkok, the essences of meeting as follows: 1. Approved the Office Building Lease agreement for 3-year term. The details as follow : - Date of Transaction : October 1st, 2010 - September 30th, 2013 - Related Party : Suntowers Company Limited (ST), a lessor for premise and facilities services provided, whereas Sunflowers Enterprise Company Limited (SE) is a major shareholders jointly have management team with THIP namely are THIP ST SE 1.Mr.Phietoon Trivijitkasem Chairman Director - 2.Mr.Huang Kuan-Chiun Deputy Chairman, Managing Director Diirector - 3.Mrs.Pojanard Prinyapatpakorn Director Managing Director, Director - 4. Mr.Viroon Powlinjong Director Director - 5.Mr.Teerachai Siritunyanont Director - Director 6.Ms.Narissai Mahathitirat Director - Director - Type of Transaction : THIP has agreed to execute the Office Lease agreement with ST as follows : 1. An office space is deemed to be 1,256 square. The rate of rental and facilities service is THB.400.-/sq.m./month. Totaling THB.18,086,400.- throughout 3 years of the lease agreement. 2. The 11 sq.m. Storage room with rental rate at THB.4,500.-/month. The total amount for 3 years is THB.162,000.- - Total Value : The 3 years lease for office space rental and facilities service provided totaling THB.18,248,400 (Eighteen million two hundred forty-eight thousand four hundred baht. - Remuneration Policy : Rental and facilities services rate was quoted on market price and has compared to other rental tenants in the same building, and also rental rate of neighborhood. - The reason and necessity of transaction : The company need more space and storage room to support business expansion and recruitment of more employees. Therefore, THIP requested to terminate the existing Lease Agreement with ST on October 1st, 2010 before the expiry date and need the approval of the new office lease agreement. The previously agreement has only 800 sq.m. rental space with service charge of THB.400.-/sq.m./month, started from July 1st, 2009 - June 30th, 2012. - Director of connected transaction : They do not attend the meeting and have no vote right. (Mr.Phietoon Trivijitkasem, Mr.Huang Kuan-Chiun, Mrs.Pojanard Prinyapatpakorn, Mr.Viroon Powlinjong, Mr.Teerachai Siritunyanont, Ms.Narissai Mahathitirat) - Suggestion from Board of Directors and Audit Committee : Approved the related transaction to lease premise and facilities services as office and storage room not more than 3 years at the total amount of THB. 18,248,400 (Eighteen million two hundred forty-eight thousand four hundred baht) since being a common business dealing with reasonable and fair price. 2. Acknowledged the resignation from the company's Director and Managing Director of Mr.Huang Kuan-Chiun effective on November 1st ,2010. 3. Approved to postpone an agenda on the election of new director replacing the vacant position. 4. Approved Mrs.Pojanard Prinyapatpakorn to be Managing Director in order to replace of Mr.Huang Kuan-Chiun, with effective on November 1st ,2010. ______________________________________________________________________