Operating result Q2' 2006

TRANSLATION

No. F/49 -                                     11  August  2006

Subject        :  Financial Statements Submission

Attention      :  Managing Director
                  Stock Exchange of Thailand

Attachment     :  Financial statements for the second quarter ended 30 June 2006

      Thai Factory Development Public Company Limited (the Company)
would like to submit the financial statements for the second quarter
ended 30 June 2006 of the Company and its subsidiaries in
comparison with the same period of the year 2005 as follows.
                       2006       2005      Change       Increase
                      Mil. Bt.   Mil. Bt.  Mil. Bt.    (Decrease)  %
   Sales                 -        449.3    (449.3)       (100.0)
   Total revenue        51.1      502.4    (451.3)        (89.8)
   Net profit (loss)   (14.8)      48.2     (63.0)       (130.7)

      The Company's operational performance for the second quarter
of 2006 showed a net loss of Baht 14.8 million compared to the same
quarter of last year which showed a net profit of Baht 48.2 million.
This resulted from gain on sale of a big lot of factories to
Thai Industrial Fund 1 (TIF1) amounted Baht 441.3 million during
the second quarter of 2005, while during this quarter the new projects
are mainly in developing process and the customer preferred leasing
rather than buying.

                                           Faithfully yours,





                                       (Mr.Apichai  Taechaubol)
                                            Managing Director