Acquisition of Land in Amata Nakorn Industrial Estate
Ref: COR:MS/EL06019e/ms
1 November 2006
Subject: Acquisition of Land in Amata Nakorn Industrial Estate
To: The President of the Stock Exchange of Thailand
Ref: The Disclosure of Information of COR:MS/EL06017e dated 19 October 2006
On 19 October 2006, Thoresen Thai Agencies Public Company Limited ("TTA") disclosed its investment in GAC Thoresen Logistics Ltd. ("GACTL"), in which GACTL will build a 10,000 square metre warehouse on approximately 18 rais of land in Amata Nakorn Industrial Estate, Bangpakong, Cholburi ("Amata").
TTA would like to confirm the land acquisition in Amata on behalf of GACTL as follows:
1. Date of Transaction
The Agreement to Purchase and Sell Land was signed on 1 November 2006
2. The Parties Involved
Buyer : GACTL
Seller : Amata Corporation Public Company Limited ("Amata")
Relationship between Buyer and Seller: None
3. Details of the Acquired Asset
One plot of land covering an area of approximately 18.7 rais in Amata.
4. Total Value of the Acquired Asset
The total cost of land is Baht 63,580,000 (Baht Sixty Three Million Five Hundred and Eighty Thousand). The land price includes all costs of land development and common facilities.Cont. 2.../
Thoresen Thai Agencies Public Company Limited
Page 2
5. Benefit Expected to be Generate from the Transaction
To start construction on the 10,000 square metre warehouse to serve the logistics business of GACTL.
6. Sources of Fund
From existing capital of GACTL.
7. Payment
Payment for the land will be made in five instalments. The actual transfer of land ownership is expected to occur in January 2007.When this transaction is included with other asset acquisition transactions in the past six months, it is not subject to the Rules, Procedures and Disclosure of Information of the Stock Exchange of Thailand regarding the Connected Transactions or the Acquisition and Disposition of Assets of Listed Companies.
Yours faithfully,
----------------------------- -----------------------------
(M.R. Chandram S. Chandratat) (M.L. Chandchutha Chandratat)
Chairman Managing Director