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Clarification Of The Operating Results Of Q2/06

BackAug 09, 2006

SF 260/06

                        9 August 2006

Subject:    Clarification of the operating results different from the
same period last year more than 20%
To:         President
            The Stock Exchange of Thailand

            Siam Future Development Public Company Limited would like to
clarify the operating results of three-month periods ended 30 June 2006
different from the same period last year more than 20% regarding the
regulation of The Stock Exchange of Thailand as follows:
1.      Revenues
      Total Revenues was accounted for 227.00 Million Baht increasing
by 125.45 Million Baht or 124% compared to the same period last year.
      Rental and Service Income was accounted for 123.99 Million Baht
increasing by 46.44 Million Baht or 60% compared to the same period last year.
      Location Procurement Fee from Esplanade (Ratchadapisek),Pattaya,
Phahonyothin, and Petchkasem Avenue Project was accounted for
54.51 Million Baht increasing by 30.51 Million Baht  or 127% compared to
the same period last year.
       Finance Lease Income was accounted for 48.52 Million Baht
increasing from the same period last year which there was no such income.

2.      Cost and Expenses
      Total Cost was accounted for 111.65 Million Baht increasing by
58.26 Million Baht or 92% compared to the same period last year.
      Cost of Rental and Service was accounted for 94.74 Million Baht
increasing by 41.35 Million Baht or 77% compared to the same period last year.
      Cost of Finance Lease was accounted for 16.90 Million Baht
increasing from the same period last year which there was no such cost.



3.      Net Profit
      Net profit was accounted for 59.07 Million Baht increasing by
40.98 Million Baht or 227% compared to the same period last year.
 
      In the 2nd Quarter of the year 2006, the Company recognized the
Rental & Service Income and Location Procurement Fee as well as Finance Lease
Income from 4 new shopping centers. Therefore, Total Revenue and Total Cost
as well as Net Profit increased from the same period last year.

       Please be informed accordingly.


                              Sincerely Yours,

 
                        (Mr. Somnuk Pojkasemsin)
                                 President