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Notification Of Capital Increase And Allotment Of New Shares

BackJun 09, 2006

SF 181/49

                                    9 June 2006

Subject:      Notification of Capital Increase and allotment of new shares
To:      President
      The Stock Exchange of Thailand

      Siam Future Development Public Company Limited would like to report
the resolution of Board of Directors' meeting No. 3/2006, which held on 8 June
2006 at 4:00 pm., regarding Capital Increase and allotment of new shares as
follows:
1. Capital Increase
            The meeting of the board of directors approved the capital
increase by issuing 84,830,000   ordinary shares with a par value of Baht 1
each by allocation to the Company's existing shareholders in proportion to their
shareholding at the ratio of 5 current shares to 1 newly issued share at the
price of Baht 5 per share. The meeting also authorized the board of directors
of the Company to allocate the newly issued shares which are not subscribed to
the existing shareholders of the Company who exercise their rights to subscribe
the shares in excess of their rights provided that those shares will be
allocated to the existing shareholders of the Company which have declared their
intention to subscribe the newly issued shares in excess of their rights in
proportion to their initial subscription.
      The share registration book for determining the rights of shareholders
to subscribe new shares will be closed from 12:00 pm., 25 July 2006 and
Subscription period and payment will be scheduled on 7-11 August 2006.
The details of subscription place and other details will be further informed.
2. Issuance of warrants for directors and employees (ESOP)
      The meeting of the board of directors approved the issuance of
5-year warrants for directors and employees (ESOP) in the amount of 15,000,000
units. The exercise price will be determined by the average price after 10
business days from XR (the close of share register book for determining the
rights of shareholders to subscribe new shares by following No.1) symbol shown.
The exercise ratio is 1 warrant for 1 new ordinary share. The meeting also
authorized the board of directors of the Company to allocate
the warrants.
3. Schedule for extraordinary meeting of shareholders
      The extraordinary meeting of shareholders no. 1/2006 is scheduled
to be held on 14 July 2006 at 14:30 p.m. at Plaza Athenee Hotel, Wireless Road,
Bangkok. The share registration book for the right to attend the meeting will be
closed from 12:00 pm., 23 June 2006 to the time the meeting is completed.
The agenda would be as follows:

      3.1      To adopt the minutes of Annual General Shareholders'Meeting
Y2006
      3.2       To approve the Capital increase to the existing shareholders
      3.3       To approve the issuance of warrants for directors and
employees (ESOP)
      3.4       To approve the Capital Decrease
      3.5       To approve the Capital Increase and allotment of new shares
by following No.3.2 and No.3.3 agenda
      3.6      To approve the amendment of the Memorandum of Association to
correspond with the registered capital increase/decrease
      3.7       To consider other matters (if any)

            Please be informed accordingly.


                                          Yours Sincerely,



                                      (Mr.Somnuk Pojkasemsin)
                                            President