CAPITAL STRUCTURE

At the Extraordinary General Meeting of Shareholders No. 4/2004, 26^(th)
August 2004, shareholders of the Company authorised the issue of common
shares, thereby increasing the share capital allotted to the public,
supporters, and Company employees. Consequently, the Company’s
registered capital was THB 40,931,510 divided into 40,931,510 ordinary
shares with a par value of THB 1 each.

On 23^(rd) July 2007, the Extraordinary General Meeting of Shareholders
No. 1/2007 passed resolutions to increase the Company’s registered
capital of THB 368,383,500 divided into 368,383,500 ordinary shares at a
par value of THB 1 each, therefore increasing the existing registered
capital of THB 40,931,510 to THB 409,315,100, divided into 409,315,100
ordinary shares at par value of THB 1 each. On 6^(th) August 2007, the
Company reported the results of the sale of shares to the existing
shareholders whereby 350,434,608 ordinary shares were subscribed while
17,948,982 shares remain unsubscribed.

Following the call made by the Board of Directors on the 14^(th) of
December 2007 for an EGM in January, the resolutions of the
Extraordinary General Meeting of Shareholders No. 1/2008 on 29^(th)
January 2008 approved the reduction of the Company’s registered capital
from THB 409,315,100 to THB 391,366,118, divided into 391,366,118
ordinary shares at the par value of THB 1 by cancelling 17,948,982
shares at the par value of THB 1 per share. These cancelled shares had
remained unissued from the previous rights issue approved by the
Extraordinary General Meeting of Shareholders No. 1/2008, and increased
the registered capital by THB 130,000,000 from the existing registered
capital of THB 391,366,118 to be THB 521,366,118 divided into
521,366,118 ordinary shares at the par value of THB 1 each.

On 21^(st) March 2008, the Board of Directors’ Meeting No. 4/2008
approved the allotment of 130,000,000 new ordinary shares with a par
value of THB 1 per share at an offering price of THB 2.10 per shares to
MGP Hazel (Mauritius) No. 1 Limited.

As of 9^(th) April 2008, the Company’s authorised share capital was THB
521,366,118 divided into 521,366,118 ordinary shares at a par value of
THB 1 each.

The current paid-up share capital is THB 521,366,118.

The Company’s capital increase from the date the Company was listed on
the Market for Alternative Investment is as follows:

+---+-----+-----+-----+-----+-------+----------------------------------+
| N | Reg | R   | In  | R   | Paid  | Remarks                          |
| o | ist | egi | cre | egi | – up  |                                  |
| . | rat | ste | ase | ste | share |                                  |
|   | ion | red | /   | red | ca    |                                  |
|   | d   | sh  | (   | sh  | pital |                                  |
|   | ate | are | Dec | are | (THB) |                                  |
|   |     | c   | rea | c   |       |                                  |
|   |     | api | se) | api |       |                                  |
|   |     | tal | (T  | tal |       |                                  |
|   |     | bef | HB) | af  |       |                                  |
|   |     | ore |     | ter |       |                                  |
|   |     | c   |     | in  |       |                                  |
|   |     | api |     | cre |       |                                  |
|   |     | tal |     | ase |       |                                  |
|   |     | cha |     | /   |       |                                  |
|   |     | nge |     | red |       |                                  |
|   |     | (T  |     | uct |       |                                  |
|   |     | HB) |     | ion |       |                                  |
|   |     |     |     | (T  |       |                                  |
|   |     |     |     | HB) |       |                                  |
+---+-----+-----+-----+-----+-------+----------------------------------+
| 1 | 2   | 4   | -   | -   | 40,93 | -                                |
| . | 7/0 | 0,9 |     |     | 1,510 |                                  |
|   | 4/2 | 31, |     |     |       |                                  |
|   | 005 | 510 |     |     |       |                                  |
+---+-----+-----+-----+-----+-------+----------------------------------+
| 2 | 8/0 | 4   | 36  | 40  | 3     | Allocated                        |
| . | 8/2 | 0,9 | 8,3 | 9,3 | 91,36 |                                  |
|   | 007 | 31, | 83, | 15, | 6,118 | to existing shareholders         |
|   |     | 510 | 500 | 100 |       |                                  |
|   |     |     |     |     |       | Objectives                       |
|   |     |     |     |     |       |                                  |
|   |     |     |     |     |       | 1) Support and expand the        |
|   |     |     |     |     |       | Company’s existing business.     |
|   |     |     |     |     |       |                                  |
|   |     |     |     |     |       | 2) Business expansion into a     |
|   |     |     |     |     |       | well - defined media placement   |
|   |     |     |     |     |       | and advisory services, sales and |
|   |     |     |     |     |       | marketing and investment into a  |
|   |     |     |     |     |       | branded hotel project in Samui,  |
|   |     |     |     |     |       | Surathani Province               |
|   |     |     |     |     |       |                                  |
|   |     |     |     |     |       | 3) For use as the Company’s      |
|   |     |     |     |     |       | working capital                  |
+---+-----+-----+-----+-----+-------+----------------------------------+
| 3 | 1   | 40  | (17 | 39  | 3     | Reduction of 17,948,982 unissued |
| . | 1/0 | 9,3 | ,94 | 1,3 | 91,36 | shares.                          |
|   | 2/2 | 15, | 8,9 | 66, | 6,118 |                                  |
|   | 008 | 100 | 82) | 118 |       |                                  |
+---+-----+-----+-----+-----+-------+----------------------------------+
| 4 | 1   | 39  | 13  | 52  | 3     | Allocation                       |
| . | 2/0 | 1,3 | 0,0 | 1,3 | 91,36 |                                  |
|   | 2/2 | 66, | 00, | 66, | 6,118 | Offered to private placement     |
|   | 008 | 118 | 000 | 118 |       | investors and/or institutional   |
|   |     |     |     |     |       | investors                        |
|   |     |     |     |     |       |                                  |
|   |     |     |     |     |       | Objectives                       |
|   |     |     |     |     |       |                                  |
|   |     |     |     |     |       | For use as the Company’s working |
|   |     |     |     |     |       | capital and future investments   |
+---+-----+-----+-----+-----+-------+----------------------------------+
| 5 | 0   | 52  | 13  | 52  | 5     | The Board of Directors’ Meeting  |
| . | 9/0 | 1,3 | 0,0 | 1,3 | 21,36 | No. 4/2008 on 21^(st) March 2008 |
|   | 4/2 | 66, | 00, | 66, | 6,118 | approved the allotment of        |
|   | 008 | 118 | 000 | 118 |       | 130,000,000 new ordinary shares  |
|   |     |     |     |     |       | with a par value of THB 1 per    |
|   |     |     |     |     |       | share at an offering price of    |
|   |     |     |     |     |       | THB 2.10 per shares to MGP Hazel |
|   |     |     |     |     |       | (Mauritius) No. 1 Limited.       |
+---+-----+-----+-----+-----+-------+----------------------------------+