Report On Shareholders' Resolutions As Of Year 2005

 Translation


                  THAI FACTORY DEVELOPMENT PUBLIC COMPANY LIMITED
                        REPORT ON SHAREHOLDERS' RESOLUTIONS


      Thai Factory Development Public Company Limited would like to
report on the resolutions made at the shareholders' ordinary meeting
held on April 8, 2005.  The details of the resolutions are as follows:


1.To certify the minutes made at an annual ordinary shareholders'
  meeting 2004 held on April 29, 2004.


2.To acknowledge the Company's operation results and directors' report
  for the year 2004.


3.To approve the balance sheet and profit/loss account as of December
  31, 2004.


4.(/) Not to allocate net profit for legal reserves because the
  Company's operation is still showing cumulative losses at the end
  of year 2004.


  (/) To omit the annual dividend payment for the operation from
  January 1, 2004 to December 31, 2004 because the Company's operation
  is still showing cumulative losses at the end of year 2004


5.To re-appoint the directors whose tenure has ended, as follows:
  -The directors whose tenure has ended are as follows:
            1.  Dr. Sunthorn      Sathirathai
            2.  Mr. Apichai      Taechaubol
            3.  Mr. Nan      Kitjalaksana


-The directors being re-appointed are as follows :
            1.  Dr. Sunthorn      Sathirathai
            2.  Mr. Apichai      Taechaubol
            3.  Mr. Nan      Kitjalaksana
-To approve the directors' remuneration at Baht 3,000,000.- per
  annum and authorized the Company's board of directors to allocate
  the remuneration.


  At present, the Company's directors are totally 9 persons as follows:
                 




-2-
      1.Dr. Sunthorn    Sathirathai     Chairman
      2.Mr. Apichai     Taechaubol      Director, Executive Chairman,
                                        and Managing Director
      3.Mr. Sommart     Sangkhasap      Director and Audit Committee
                                        Member
      4.Mr. Thavatchai  Jiaravudthi     Director and Executive Director
      5.Mr. Prasong     Vara-ratanakul  Director and Audit Committee
                                        Chairman
      6.Mr. Nan         Kitjalaksana    Director and Audit Committee
                                        Member
      7.Mr. Anukul      Ubonnuch        Director
      8.Mr. Gumpol      Tiyarat         Director, Executive Director,
                                        and Deputy Managing Director
      9.Miss Panlada    Phairojkijja    Director


      In addition, the existing company's directors are 11 seats. 
      Therefore,the board will consider the other 2 persons for
      replacement.
           
6.To appoint the following auditors year for 2005.
      Mr.Narong    Puntawong      CPA No.  3315  Ernst & Young Office
                                                 Co., Ltd.
      Mr.Supachai  Phanyawattano  CPA No.  3930  Ernst & Young Office
                                                 Co., Ltd.
      Ms.Siraporn  Ouaanunkun     CPA No.  3844  Ernst & Young Office
                                                 Co., Ltd.


     - The auditing fees at Baht        610,000.- per annum.


7.Acknowledge and approve to withdraw the agenda 7: purchase the
  business of other/private company to the company because the seller
  had drawn back their purpose.  Therefore, there is no any for
  consideration anymore.


8.Other (If any)       




            Signature                  Authorized Director
                 (Mr. Apichai    Taechaubol)
             Position   Managing Director
F : E-SH-RES