8.  Structure of Capital

    1.  Share Capital and Premium on Share Capital

  In accordance with the minutes of the general shareholders’ annual
  meeting for year 2004 held on February 23, 2004, it was resolved that
  the Company increased its registered share capital from the former
  amount of Baht 100.00 million to registered share capital of Baht
  225.00 million by issuance of 12.50 million shares at Baht 10.00 par
  value totaling Baht 125.00 million. The Company received increased
  share subscription numbering 7.50 million shares totaling Baht 75.00
  million and premium on share capital from increased share subscription
  numbering 2.00 million shares is Baht 8.00 million , Baht 4.00 each
  more than par value. The Company registered the increased share
  capital with the Ministry of Commerce on March 9, 2004.

  In accordance with the minutes of the extraordinary shareholders’
  meeting No. 1/2004 held on March 22, 2004, the Company decided to
  split ordinary shares from 1 former ordinary share to 2 new shares and
  changed par value of ordinary shares accordingly from the former 22.50
  million ordinary shares at par value of Baht 10.00 each totaling Baht
  225.00 million to 45.00 million ordinary shares at par value of Baht
  5.00 each, totaling Baht 225.00 million. Then the share capital which
  have already been issued and fully paid numbering 17.50 million
  ordinary shares at par value of Baht 10.00 each, totaling Baht 175.00
  million would be changed to 35.00 million ordinary shares at par value
  of Baht 5.00 each, totaling Baht 175.00 million. The Company already
  registered the changed number of shares and par value with the
  Ministry of Commerce on April 2, 2004 which include additional
  offering 10.00 million shares subscription to the general public.

  On October 6, 2004, the Company received payments from above
  subscription which were sold to the general public for 10.00 million
  shares, totaling of Baht 120.00 million. The premium on that
  subscription is Baht 7.00 per share, totaling Baht 70.00 million. The
  Company registered increased its capital at the Ministry of Commerce
  on October 7, 2004.

2.  Shareholders

  The top 10 shareholder’s name on December 31, 2004.

+-----+----------------------------+-----------------+----------------+
| No. | Shareholder’s Name         | Amount of       | Percent of     |
|     |                            | Shares          | Share          |
+-----+----------------------------+-----------------+----------------+
| 1   | Mr. Khanchai Boonpan       | 12,790,000      | 28.42          |
+-----+----------------------------+-----------------+----------------+
| 2   | Mr. Samart Chiradamrong    | 4,060,000       | 9.02           |
+-----+----------------------------+-----------------+----------------+
| 3   | Bank of Ayudhya Group *    | 4,000,000       | 8.89           |
+-----+----------------------------+-----------------+----------------+
| 4   | Mr. Pairot Saitum          | 1,540,000       | 3.42           |
+-----+----------------------------+-----------------+----------------+
| 5   | Mr. Kiatichai Pongpanich   | 1,540,000       | 3.42           |
+-----+----------------------------+-----------------+----------------+
| 6   | Mrs. Santana Netrprapha ** | 1,540,000       | 3.42           |
+-----+----------------------------+-----------------+----------------+
| 7   | Mr. Anusak Inthraphuvasak  | 1,410,000       | 3.13           |
|     | ***                        |                 |                |
+-----+----------------------------+-----------------+----------------+
| 8   | Mr. Krithanant Palarit     | 1,200,000       | 2.67           |
+-----+----------------------------+-----------------+----------------+
| 9   | Mr. Khlang Tantimongkolsuk | 1,200,000       | 2.67           |
+-----+----------------------------+-----------------+----------------+
| 10  | Mrs. Chutima Laochinda     | 870,000         | 1.93           |
+-----+----------------------------+-----------------+----------------+
| To  |                            | 30,150,000      | 67.00          |
| tal |                            |                 |                |
+-----+----------------------------+-----------------+----------------+
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+-----+----------------------------+-----------------+----------------+
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+-----+----------------------------+-----------------+----------------+

3.  Dividend Payment Policy

  The dividend payment will be paid not less than 40 percent from net
  profit after deducting tax and legal regulations reserved.

  The factors to consider dividend payment are the Company’s
  performance, financial status, liquidity, expansion of the Company and
  others related factors . The dividend payment must be resolved with
  the minute of the general shareholders’ annual meeting except the
  interim dividend payment which is resolved by the minute of the Board
  of Directors committee and will be informed to shareholders on next
  meeting.