2.  The Nature of Business

    1.  The Company Background

  Group Lease Public Company Limited was established on May 6, 1986 with
  registered capital Baht 1 million by Luaengrungsi family, and started
  up business in the hire purchase motor cars in Bangkok, boundary and
  upcountry. During year end 1989 to beginning 1990 Mr. Khanchai Boonpan
  and Mr. Anurak Inthraphuvasak purchased the entity old shareholders,
  and invited Mr. Samart Chiradamrong, who has experience in hire
  purchase business for along time, run business continuously in the
  position of Managing Director. The Company increase capital from Baht
  1 million to Baht 10 million, to Baht 20 million, to Baht 40 million
  and to Baht 100 million in 1988, 1989, 1990 and 1993 respectively.

  In 1993, the hire purchase motorcycles continue rapid growth. The
  Company has completely with personnel, capacity, experience and skill
  in the business for more than 10 years. The Company started up to
  expand hire purchase motorcycles and slowed down hire purchase motor
  cars. And expanded business to hire purchase truck, macho and printing
  press, meanwhile expanded business to Financial Lease, Factoring
  Contracts, Assets Financing and Personal Loan.

  In present, the core business of the Company is hire purchase
  motorcycles. The market share in hire purchase motorcycles industry in
  Bangkok and boundary is about 7.16 in 2004, at the fifth of ranging.

2.  Overview of the Company’s Business

  In 2004, the hire purchase new motorcycles is the main business of the
  company. The motorcycle price for financing about Baht 33,000 each,
  with the well known brand such as Honda, Yamaha, Suzuki and Kawasaki.
  The highest financing price of motorcycles is no more than Baht 65,800
  each. Due to unsuccessfully in Personal Loan and Assets Financing
  service, the Company ceased that services for new clients.

  Beside service in hire purchase motorcycles, the Company offers other
  services after sales. Such as, service of yearly taxation and
  insurance to add more channel of the Company’ revenues, and to protect
  assets from loss.

3.  Structure of The Company’s Revenues

Baht 1:1000

  ----------------------- --------- --------- --------- --------- --------- --------- --------- ---------
  The Company’s Revenues  2004                2003                2002                2001      

                          Baht      Percent   Baht      Percent   Baht      Percent   Baht      Percent

  Hire Purchase and Asset 235,322   84.37     214,030   82.11     204,617   87.34     175,768   87.23
  Financing                                                                                     

  Financial Lease         26        0.01      247       0.09      370       0.16      2,108     1.05

  Factoring Contracts     0         0.00      10        0.00      110       0.05      148       0.07

  Personal Loan           2,157     0.77      6,819     2.62      2,427     1.04      0         0.00

  Others income           41,425    14.85     39,548    15.17     26,753    11.42     23,487    11.66

  Total                   278,930   100.00    260,654   100.00    234,277   100.00    201,511   100.00

  Remarks : Others income                                                                       
  are such as penalty                                                                           
  from Hire Purchase,                                                                           
  Financial Lease, Assets                                                                       
  financing and Personal                                                                        
  Loan, Interest                                                                                
  Receivable, Taxation                                                                          
  Motorcycle Service,                                                                           
  Insurance’s Rebate,                                                                           
  Custodian of Registered                                                                       
  Motorcycle’s Book,                                                                            
  Dividend, Bank                                                                                
  Deposit’s Interest,                                                                           
  Loss from Repossessed                                                                         
  Motorcycles Recovery,                                                                         
  Bad Debt Recovery,                                                                            
  Pursuant Debt Income                                                                          
  and Sales Promotion.                                                                          
  ----------------------- --------- --------- --------- --------- --------- --------- --------- ---------

4.  Business Goal

  The Company’s ultimate goal for next 3 years is to expand business in
  hire purchase motorcycles in Bangkok, boundary and upcountry with
  average growth rate about 15 percent per year.