Operation Results F/S 2007

TRANSLATION

No. F/51 -

27 February 2008

Subject : Financial Statements Submission

Attention : Managing Director Stock Exchange of Thailand

Attachment : Financial statements for the year ended 31 December 2007

Thai Factory Development Public Company Limited (the Company) would like to submit the financial statements for the year ended 31 December 2007 and the operational performance including the financial position of the Company and its subsidiaries in comparison with the same period of the year 2006 as follows.

The operational performance for the year 2007 showed a net profit of Baht 45.185 million in comparison with that of the year 2006 which showed a net profit of Baht 65.499 million or about 31% decrease. This due to, during the year 2006, the Company had realized gain on disposition of investment units in a property fund amounted Baht 53.278 million, and gained from cancellation of leasehold rights in an office building amounted Baht 39.402 million.

Faithfully yours,

(Mr.Apichai Taechaubol)
Managing Director

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