1.  Management

2.9.1 Management structure.

1.  Organization chart.

Group Lease Public Company Limited management’s structure consists of
two directors’ group; the company’s Board of Directors and the Audit
committee.

The management structure consists of two groups of committee which are
the Directors committee and the Audit committee.

2.  Company’s Board of Directors’ structure

  As at 31^(st) December 2006, the company’s Board of Directors of 10
  directors was as follows:

+---+----------------------------+------------------------------------+
| D |                            | Position                           |
| i |                            |                                    |
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+---+----------------------------+------------------------------------+
| 1 | Mr. Samart Chiradamrong    | Chairman of the Board of Directors |
| . |                            |                                    |
+---+----------------------------+------------------------------------+
| 2 | Mr.Kiatichai Pongpanich ** | Vice Chairman of the Board of      |
| . |                            | Directors                          |
+---+----------------------------+------------------------------------+
| 3 | Mr. Amnarj Prasertwuth     | Managing Director                  |
| . |                            |                                    |
+---+----------------------------+------------------------------------+
| 4 | Air Chief Marshall         | Chairman of the Audit committee    |
| . | Prachoom Chaisiri **       |                                    |
|   |                            | and Independent Director           |
+---+----------------------------+------------------------------------+
| 5 | Mr. Likasit Pansomchit *   | Director                           |
| . |                            |                                    |
+---+----------------------------+------------------------------------+
| 6 | Mr. Prapat Aphiphunya *    | Director                           |
| . |                            |                                    |
+---+----------------------------+------------------------------------+
| 7 | Mr. Anurak Inthraphuvasak  | Director                           |
| . | *                          |                                    |
+---+----------------------------+------------------------------------+
| 8 | Police General Vasit       | Director                           |
| . | Dejkunjorn **              |                                    |
+---+----------------------------+------------------------------------+
| 9 | Mr. Satit Rungkasiri       | Audit Committee and Independent    |
| . |                            | Director                           |
+---+----------------------------+------------------------------------+
| 1 | Mr.Likhit Sirinarud *      | Audit Committee and Independent    |
| 0 |                            | Director                           |
| . |                            |                                    |
+---+----------------------------+------------------------------------+
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+---+----------------------------+------------------------------------+
| 1 | Mrs. Wanna Laicharoenwong  | Secretary of the Board of          |
| . |                            | Directors                          |
|   |                            |                                    |
|   |                            | and the company’s secretary        |
+---+----------------------------+------------------------------------+
| 2 | Miss Watcharaporn          | Assistant secretary of the Board   |
| . | Meruthong                  | of Directors                       |
+---+----------------------------+------------------------------------+

  Authorized directors.

  The directors who have authority to sign in the name of the company
  are Mr. Samart Chiradamrong or Mr. Kiatichai Pongpanich or Mr. Amnarj
  Prasertwuth, twp of these three signature together with the company’s
  logo.

  The authority of legal accuse, to force, to against the law, to
  proceed in any civil suit/criminal case, to report/cancel adversity to
  police, to file a suit in proceed the bankrupt cases. Furthermore that
  authority which include calling back, confiscating the company’s
  asset, and cash from debtors, personnel, appoint Mr. Samart
  Chiradamrong as Chairman of the Board of Directors or Mr. Amnarj
  Prasertwuth as Managing director together with the company’s logo to
  sign.

  Responsibilities of Directors.

  Directors take responsibility in managing the company’s operation
  according to legal, company objectives, its regulations and
  resolutions of shareholders’ minutes with loyalty and carefulness ,
  which can be concluded as following

1.  To arrange the shareholder meeting within four months after closing
    the accounting period.

2.  To arrange the Board of Directors meeting quarterly.

3.  To present financial statements, both balance sheets and income
    statements, which have already been examined by external auditor to
    shareholders for approval.

4.  To appoint a proxy Managing Director who manages under the Board of
    Directors’ control. The Board of Directors to appoint a proxy to
    function, or to have specific authorization under Board of
    Directors’ agreement at specific of period. However the Board of
    Directors can cancel, withdraw, or change the given authorization.
    Appointing a proxy, who must manage instead of Board of Directors,
    should be agreed by the Board of Directors’ minutes. Furthermore
    there should have independence directors and Audit committee
    involved in those minutes. If any director contradicts a proxy, the
    minutes should clearly recorded that incident.

5.  To set up the targets, direction, policy, plan, and the company’s
    budget, and to control and supervise management systems to reach the
    policy. Except the subjects which need the approval of shareholders,
    such as legal regulations increasing or decreasing capital,
    sale/purchase or transferring entity, and correcting the company’s
    prospectus.

6.  Furthermore, directors have responsibility to control the company
    operate under the Securities and Exchange Act. and the Stock
    Exchange of Thailand’s rules such as transactions concerning related
    companies and the sale or purchase of relevant assets.

7.  To generate management structure such as appointing a management
    committee, Managing Director, general managers and other committee
    appropriately.

8.  To follow the performance of operation, and whether it complies with
    plan and budgeting.

9.  Directors cannot operate or be partner in any business which is in
    the same business of the company, or that business is the company’s
    competitor whether that benefit is belong to himself or others. The
    exception is when that action is informed in a shareholders’ meeting
    before appointment.

10. Directors have to inform the company promptly if he is involved
    directly or indirectly in any benefit which comes from the company’s
    contract, including increasing and decreasing of capital/debenture
    of a director.

  However that above authorization doesn’t include the authorization in
  approving the transactions which cause conflict of interest to the
  company’s advantage. This limitation complies to the Stock Exchange of
  Thailand’s rules, the approval of such transactions has to be resolved
  in Board of Directors of shareholder, according to the company’s
  regulation or related law.

2.  Audit Committee.

  As of December 31, 2006 there were three independent directors in the
  Audit committee as follows:

+---+----------------------------+-------------------------------------+
| N |                            | Position                            |
| a |                            |                                     |
| m |                            |                                     |
| e |                            |                                     |
+---+----------------------------+-------------------------------------+
| 1 | Air Chief Mashal Prachoom  | Chairman of Audit Committee         |
| . | Chaisiri                   |                                     |
|   |                            | and Independent director            |
+---+----------------------------+-------------------------------------+
| 2 | Mr. Satit Rungkasiri       | Member of Audit Committee           |
| . |                            |                                     |
|   |                            | and Independent director            |
+---+----------------------------+-------------------------------------+
| 3 | Mr.Likhit Sirinarud        | Member of Audit Committee           |
| . |                            |                                     |
|   |                            | and Independent director            |
+---+----------------------------+-------------------------------------+

  Responsibility of the Audit Committee.

  The Audit committee takes responsibity, subject to Board of Directors,
  and reports directly to the Board of Directors as follows:

1.  To review the sufficiency and accuracy of financial reports by
    communicating with external auditors and responsible management who
    have to provide financial statements quarterly and yearly. The Audit
    committee can propose the external auditor verify any specific
    transaction which is relevant between auditing periods.

2.  To review with external auditors and internal auditors for
    sufficiency and effectiveness of internal control systems and
    internal audits

  .

3.  To review compliance with the Securities and Exchange Act, the Stock
    Exchange of Thailand’s rules, and related law.

4.  To appoint external auditors and its’ fee by taking truthfulness,
    sufficiency of resource, workload, and experiences of external
    auditors into account.

5.  To consider the sufficiency’s disclosure of related transactions,
    whether there is conflict of interest to the company’s advantage.

6.  To perform the duty according to Board of Directors’ and Audit
    committee’s assignments, such as reviewing financial management,
    risk management, and business ethics of management in relevant
    reports presented to public compliance with the Public Company
    Limited Act. Those reports include management reports and analysis
    reports made by management.

7.  To provide reports which present reviews of internal control systems
    by Audit committee in annual reports. Audit committee’s reports have
    to be signed by the Chairman of Audit committee and those reports
    have to represent the opinion of providing reporting systems and
    representing information system in accuracy and reliability.
    Sufficiency of internal control systems have to present in those
    reports with the signature of Chairman of Audit Committee and its
    members.

8.  To report the activity of Audit Committee to Board of Directors
    quarterly.

9.  To be involved in appointing, its fee, and canceling of internal
    auditor and its’ consultant

    2.  Management.

  As of December 31, 2006 there were eight members of management as
  follows:

+---+-----------------------------+------------------------------------+
| N |                             | Position                           |
| a |                             |                                    |
| m |                             |                                    |
| e |                             |                                    |
+---+-----------------------------+------------------------------------+
| 1 | Mr. Samart Chiradamrong     | Chairman of the Board of Directors |
| . |                             |                                    |
|   |                             |                                    |
|   |                             |                                    |
+---+-----------------------------+------------------------------------+
| 2 | Mr. Amnarj Prasertwuth      | Managing Director                  |
| . |                             |                                    |
|   |                             |                                    |
|   |                             |                                    |
+---+-----------------------------+------------------------------------+
| 3 | Mr. Surasak Khemthongkum    | Credit and Marketing Manager       |
| . |                             |                                    |
|   |                             |                                    |
|   |                             |                                    |
+---+-----------------------------+------------------------------------+
| 4 | Mr. Wanchai Boontham        | Collection Manager                 |
| . |                             |                                    |
|   |                             |                                    |
|   |                             |                                    |
+---+-----------------------------+------------------------------------+
| 5 | Miss.Watcharaporn Meruthong | Accounting and Finance Manager     |
| . |                             |                                    |
|   |                             |                                    |
|   |                             |                                    |
+---+-----------------------------+------------------------------------+
| 6 | Mr.Somkid Charupaiboonphan  | Administration and Personnel       |
| . |                             | Manager                            |
|   |                             |                                    |
|   |                             |                                    |
+---+-----------------------------+------------------------------------+
| 7 | Mr. Thosaporn Lerdbhan      | Information Technology Manager     |
| . |                             |                                    |
|   |                             |                                    |
|   |                             |                                    |
+---+-----------------------------+------------------------------------+
| 8 | Miss. Prapasri Jullamonthon | Operations Manager                 |
| . |                             |                                    |
|   |                             |                                    |
|   |                             |                                    |
+---+-----------------------------+------------------------------------+

Authority and scope of the Managing Director.

1.  To operate and manage the company’s normal business.

2.  To operate and follow-up the company’s operation within the business
    plan and the company’s policy which was set up by the Board of
    Directors.

3.  To approve the company’s expenses within the yearly budget which was
    approved by the Board of Directors.

4.  To consider employment, promotion, transfer, resignation and set up
    wages and salary of employees.

5.  To be the proxies in administering the company’s operation
    compliance with its objectives, regulations, discipline, and
    command.

6.  To make agreements and decisions according to the normal operation
    of the company. To make approval in the company’s operation
    compliance with level of authorization which is appointed by Board
    of Directors. The Managing Director can also appoint a proxy to act
    or do the duties which are necessary and appropriate. That
    appointing should be done under the Government’s regulations and the
    company’s discipline.

  However such appointing does not include the authority which provides
  the Managing Director or any proxy to approve the transactions or
  contracts that he is involved directly or indirectly in
  advantage/disadvantage, and when that involvement causes a conflict of
  interest to the company or any related transaction which referred by
  the Stock Exchange of Thailand’s regulations. However such appointing
  can be done by the approval of Board of Directors and shareholders
  compliance with related law and the company’s regulations.

1.  Nominating Directors and the management.

    1.  Board of Directors.

  The company hasn’t established a Nominating Committee, however
  abilities, experiences, vision, and credit are factors to consider
  when nominating directors and proposing the list to shareholders to
  appoint.

  The company’s regulations state that in each of annual general
  meeting, one of three of directors or nearest amount (1/3) must
  resign. In the first and second years after registering the entity,
  there would be tickets for picking out the resigning directors. In
  later years there will be ranking in resignation. However, resigned
  directors can be re-nominated.

  Principle and voting methods for nominating directors are:

1.  Each shareholder shall have a number of votes equal to the number of
    shared held.

2.  Each shareholder must exercise all the votes he has according to
    number of shares held (as in item 1). He may nominate one or several
    persons as directors. If several persons be nominated, he may not
    shares his voting rights with others.

3.  The candidates shall be ranked in descending order from the highest
    number of votes received to the lowest, and shall be elected as
    directors equivalent to the number of directors who are elected by
    the meeting of shareholders. In the event that there is a tie in the
    last to be elected, and this exceeds the said number of directors
    that the meeting of shareholders is required to appoint, the
    presiding Chairman shall have the deciding vote.

    1.  The Audit committee,

  The Boarding of Directors to appoint the Audit committee’s members,
  and the term for holding office is two years.

1.  Remuneration of Directors and the management

  Remuneration in terms of money.

  (Unit : Baht)

+---+-------------------------+----------------+---------------------+
| N |                         |                | 2006                |
| u |                         |                |                     |
| m |                         |                |                     |
| b |                         |                |                     |
| e |                         |                |                     |
| r |                         |                |                     |
| o |                         |                |                     |
| f |                         |                |                     |
| d |                         |                |                     |
| i |                         |                |                     |
| r |                         |                |                     |
| e |                         |                |                     |
| c |                         |                |                     |
| t |                         |                |                     |
| o |                         |                |                     |
| r |                         |                |                     |
| a |                         |                |                     |
| n |                         |                |                     |
| d |                         |                |                     |
| t |                         |                |                     |
| h |                         |                |                     |
| e |                         |                |                     |
| i |                         |                |                     |
| r |                         |                |                     |
| r |                         |                |                     |
| e |                         |                |                     |
| m |                         |                |                     |
| u |                         |                |                     |
| n |                         |                |                     |
| e |                         |                |                     |
| r |                         |                |                     |
| a |                         |                |                     |
| t |                         |                |                     |
| i |                         |                |                     |
| o |                         |                |                     |
| n |                         |                |                     |
+---+-------------------------+----------------+---------------------+
| 1 | Mr. Samart              | Chiradamrong   | 190,000.00          |
| . |                         |                |                     |
+---+-------------------------+----------------+---------------------+
| 2 | Mr. Kiatichai           | Pongpanich     | 180,000.00          |
| . |                         |                |                     |
+---+-------------------------+----------------+---------------------+
| 3 | Mr. Amnarj              | Prasertwuth    | 190,000.00          |
| . |                         |                |                     |
+---+-------------------------+----------------+---------------------+
| 4 | Air Chief Mashal        | Chaisiri       | 210,000.00          |
| . | Prachoom                |                |                     |
+---+-------------------------+----------------+---------------------+
| 5 | Mr. Thatree             | Prapapan       | -                   |
| . |                         |                |                     |
+---+-------------------------+----------------+---------------------+
| 6 | Mr. Likasit             | Pansomchit     | 190,000.00          |
| . |                         |                |                     |
+---+-------------------------+----------------+---------------------+
| 7 | Mr. Prapat              | Aphiphunya     | 180,000.00          |
| . |                         |                |                     |
+---+-------------------------+----------------+---------------------+
| 8 | Mr. Anurak              | Inthraphuvasak | 170,000.00          |
| . |                         |                |                     |
+---+-------------------------+----------------+---------------------+
| 9 | Police General Vasit    | Dejkunjorn     | 200,000.00          |
| . |                         |                |                     |
+---+-------------------------+----------------+---------------------+
| 1 | Mr. Satit               | Rungkasiri     | 130,000.00          |
| 0 |                         |                |                     |
| . |                         |                |                     |
+---+-------------------------+----------------+---------------------+
| 1 | Mr. Likhit              | Sirinarud      | 230,000.00          |
| 1 |                         |                |                     |
| . |                         |                |                     |
+---+-------------------------+----------------+---------------------+
| T |                         |                | 1,870,000.00        |
| o |                         |                |                     |
| t |                         |                |                     |
| a |                         |                |                     |
| l |                         |                |                     |
+---+-------------------------+----------------+---------------------+
| R |                         |                |                     |
| e |                         |                |                     |
| m |                         |                |                     |
| a |                         |                |                     |
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| k |                         |                |                     |
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| : |                         |                |                     |
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| r |                         |                |                     |
| . |                         |                |                     |
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| n |                         |                |                     |
| u |                         |                |                     |
| s |                         |                |                     |
+---+-------------------------+----------------+---------------------+

  ------------------------------------------------ ----------------------
  Number of Management and their remuneration      2006

  Number of Management (person)                    8

  Salary, Bonus, Provident fund, and other         9.36
  remuneration (million Baht)                      
  ------------------------------------------------ ----------------------

2.  Corporate governance.

  The Board of Directors to realize the relevance of corporate
  governance to comply with the company’s regulations and Public Company
  Acts by the Stock Exchange of Thailand. The company has a clear policy
  and procedures to ensure transparency, control, and to protect the
  long term interests of shareholder by considering corporate ethics,
  including stakeholders and society. In the Board of Directors’ meeting
  no. 5/2004 which was held at April 23, 2004 involving three members
  from the Audit committee, the company has ruled the 15 frameworks for
  good corporate governance as follows:

1.  Policy of corporate governance.

  The Board of Directors ensures investors for long term growth by
  setting the policy of corporate governance as follows:

-   To be transparency and audible of management including sufficiency
    of disclosure.

-   Carefulness and fully capability of management to utilize the
    highest interest of.

-   To set risk management systems by care. And to set the risk
    assessments including correction, preventive measures, and follow up
    systems continuously.

-   To offer equity to shareholders and stakeholders equally.

-   To write down and inform the discipline concerning ethics to the
    Board of Directors, management, and personnel.

-   To set the management structure by identifying duties and
    responsibilities of each procedures clearly.

2.  Rights and equitable treatment of shareholders.

  The company treats each shareholder fairly, such as informing about
  company’s information, informing about the annual general meeting,
  rights in voting, etc. Furthermore, the company provides convenience
  for shareholders in participating in the annual general meeting, such
  as providing necessary documents, and also informing the date, time
  and the minutes not less than seven days before the meeting.
  Shareholders can appoint a proxy to participate and to vote for their
  rights.

3.  Right of stakeholders.

  The company realizes the relevance of stakeholders who are concerned
  in the company’s operation. To support co-operation between the
  company and stakeholders for creating maximum economic value to the
  company. The company sets rules to each group of stakeholders clearly
  as follows:

-   Management and personnel – The company treats the management and
    personnel fairly and gives appropriated remuneration.

-   Dealers – The company treats the dealers fairly regarding the
    contracts made between the company and dealers.

-   Customers – The company realizes the quality of services with
    appropriate price by concentrating and satisfying the customers’
    need.

-   Competitors – The company treats the competitors fairly and also
    co-operates at an appropriated time.

-   Social and public – With the characteristics of the company, there
    is no cause that will affect society and the public.

4.  Shareholders meeting.

  The company will inform the date, time, place, and the minutes of
  meeting to Shareholders. The period of the meeting will be arranged
  appropriately and open for shareholders to inquire and suggest to the
  Board of directors. The minutes of meeting also are filed and kept in
  a secure place for auditing.

5.  Leadership and vision

  To ensure compliance with the policy of good corporate governance, and
  for creating the highest interest to shareholders, directors should
  have the leadership, vision, and independent ideas as follows:

-   The Board of Directors involved in planning of the company’s
    strategy, objective, policy, and budget.

-   There are two committees, the Board of Directors who set the policy
    and administrative and Audit committee who verify accuracy and
    completeness of financial reports, control internal systems, and
    disclose the related transactions which may cause a conflict of
    interest to the company. Furthermore the Audit committee also
    follows up the consistency of each system compliance with the
    Securities and Exchange Commission.

6.  Conflicts of interest.

  After being a listed company, the Board of Directors proposed the
  preventive action for conflict of interest carefully and truthfully.
  Reasonable and independent of business ethics to get the total
  benefit, procedures to prevent conflict of interest are generated as
  follows:

-   To conduct transactions between the company and related persons,
    have to be considered and approved by Audit Committee in accordance
    with the Securities and Exchange Act. The persons who are involved
    in that transaction cannot vote.

-   To disclose and inform the related transactions to shareholders.
    Furthermore, the appropriation and reasonable of price and
    transactions have to be verified and suggested by the Audit
    committee or independent financial consultant.

-   To prohibit directors and management in providing the company’s
    information for his advantage directly or indirectly see detail item
    2.9.5

7.  Business ethics.

  The company provides the disciplines of directors, management, and
  personnel according to a Code of Ethics or Statement of Business
  Conduct. The disciplines are documented, and are informed to
  directors, management, and personnel. Furthermore the company provides
  documentation about work roles, honesty, and punishments for
  directors, management, and personnel to follow. All staff know those
  regulations.

8.  Counterbalance of non-executive Directors.

  The Board of Directors consists of 10 members as two persons for
  Executive Director, five persons for non-executive Directors, and
  three persons for Independent Directors. The ratio of independent
  directors is 30.00% of total directors for balancing the power, and so
  no single group can make decision on their own.

9.  Distinction of office.

  The Chairman of the Board of Directors and Managing Director are not
  the same person. Separating management powers and having an Audit
  committee also ensures a balance of management.

10. Remuneration of directors and management.

  The company has set the appropriated remuneration to the directors and
  the management comparable to the industry. The remunerations are
  accounted to salary, attendance allowance and bonus. To clarify the
  payment of remuneration, if there is any change, it must be approved
  and resolved by a shareholders’ meeting. The management gets
  remuneration in the form of salary and bonus with consideration of the
  company’s and management’s performance. However, the remuneration for
  directors and management is high enough to maintain and induce the
  good quality of directors and management.

11. The Board of Directors’ meeting.

  The Board of Directors’ meeting will be held quarterly according to
  the company’s regulation. At present the company sets more frequency
  of the meeting to once a month, and one further meeting for Audit
  committee which will be held every second month. Special meetings are
  held for necessary occasions. The letters and documentations for
  meetings will be arranged and sent for making understandings to
  directors at least seven days before the meeting.

  In 2006, 12 meeting were held and the directors who attended the
  meetings, were named as follows:

  ------------ ------------------------ ------------------ ----------------------
  Directors’                                               # of attendance in
  Name                                                     2006

  1.           Mr. Samart               Chiradamrong       12

  2.           Mr. Kiatichai            Pongpanich         11

  3.           Mr. Amnarj               Prasertwuth        12

  4.           Air Chief Marshall       Chaisiri           12
               Prachoom                                    

  5.           Mr. Thatree              Prapapan           -

  6.           Mr. Likasit              Pansomchit         12

  7.           Mr. Prapat               Aphiphunya         11

  8.           Mr. Anurak               Inthraphuvasak     10

  9.           Police General Vasit     Dejkunjorn         11

  10.          Mr. Satit                Rungkasiri         3

  11.          Mr. Likhit               Sirinarud          12

  Remark : •                                               
  Mr. Thatree                                              
  Prapapan                                                 
  resigned on                                              
  April 25,                                                
  2006                                                     
  ------------ ------------------------ ------------------ ----------------------

12. Sub-committee.

  The company does not establish a sub-committee which will help support
  in corporate governance. The company does not have a policy to
  establish that in the near future.

13. Internal controls and internal audit systems.

  The company realizes the relevant of internal controls in every
  procedure to get the most efficient operations. In 2006 the company
  hired a consultant –Tax Specialist Company Limited – to set and
  improve the existing systems to get more efficiency. And the company
  also set security to access internal information by using authorized
  passwords for each level. The company also identifies the
  responsibility of each person

  For financial control systems, the company sets the procedure for
  verifying financial report systems. Those reports are presented to the
  concerned management every month. The company also arranges the
  management meeting to consider and correct mistakes stated in the
  reports every month.

  The company provides risk management by reporting accounts
  receivables’ management systems every month. Accounts receivable will
  be grouped according to historical payment and each group will have
  officer taking responsibility. Management, together with the Board of
  Directors’ meeting, will be held to evaluate the efficiency of
  accounts receivable’ management systems every month.

14. The Board of Directors’ report.

  The Board of Directors have to take responsibility for financial
  statements and notes presented in the annual report. Financial
  statements and the results of operation are presented in accordance
  with General Accepted Accounting Principles. Accounting records are
  also prepared appropriately and consistency with previous years. Notes
  to financial statements will be sufficiently disclosed, including
  completeness, accuracy, truth and reasonability.

  The Board of Directors arrange the disclosure of information in the
  annual report, and the company will send the annual report together
  with a letter to inform about the meeting to shareholders

15. Relationship with investors.

  The company realizes the relevant of disclosure of information which
  cause to investors to make decisions. The company has strict policies
  on information disclosure to ensure its completeness, transparency,
  and timeliness in both financial statement and information disclosure.

3.  Inside information controls.

  The Company has discipline to prohibit disclosure of inside
  information to the public for advantage, directly or indirectly. The
  company also provides punishments for those incident. The company sets
  the committee which included all managers from every department and
  the Managing Director who will make the judgments. The punishments
  will be provided equally according to the characteristic faults. If
  personnel are careless, he will be given a warning letter. If the
  fault is intended and cause the company dramatic damage, he will be
  fired according to corporate governance. The company also informs all
  management, including his spouse and his children, to report any
  changes in their securities holding to Securities and Exchange Act
  B.E. 2535 and the Stock Exchange of Thailand rules.

4.  Human resources

  The total number of employees as December 31, 2006, 2005, and 2004
  were as follows:

  --------------------------- -------------- -------------- --------------
  Departments                 2006 (persons) 2005 (persons) 2004 (persons)

  Credit and Marketing        8              6              50
  department                                                

  Collection department       44             37             35

  Accounting and Financial    9              8              8
  department                                                

  Personnel and               11             9              7
  Administration department                                 

  Operating department        70             57             43

  Technology information      10             9              7
  department                                                

  Total                       152            126            150
  --------------------------- -------------- -------------- --------------

  For the last past three years, the changes in number of personnel are
  so low and there is no any legal commitment between the company and
  personnel.

  Remuneration of personnel.

  Total remuneration of personnel in term of salary, bonus, fringe
  benefit, provident fund, and other remuneration in 2006, 2005 and 2004
  were as follows:

+-----------------------------------+----+---------+---------+--------+
|                                   |    | Unit :  |         |        |
|                                   |    | Million |         |        |
|                                   |    | Baht    |         |        |
+-----------------------------------+----+---------+---------+--------+
| Remuneration of personnel         |    | 2006    | 2005    | 2004   |
+-----------------------------------+----+---------+---------+--------+
| Salary, bonus, fringe benefit,    |    | 26.81   | 25.76   | 30.85  |
| provident fund, and commission    |    |         |         |        |
+-----------------------------------+----+---------+---------+--------+

  Human resource development.

The company has human resource development to improve knowledge,
abilities, experiences, and expertise of personnel to support the
quality of service. The company also realizes transparency of operation
according to good Corporate Governance. The company acknowledge to
inform the personnel about the ethics of working by providing
orientation for new personnel. In addition to being personnel of the
company, the company also provides internal and external seminars in the
field of their responsibity, such as hire purchase business, computers,
human resource development, and accounting and tax, etc.