1. FIABCI World Congress: The Phuket Property Market post tsunami 29 May 2006

2. CB Richard Ellis | Page 2 The Phuket Property Market The tsunami in Phuket  Thailand was the least affected of countries hit by the Dec. 04 tsunami  Phuket far less affected than Khao Lak  Physical damage restricted to immediate seafront in limited number of west coast beaches  Fast and efficient response  Island operational within days  90% of physical damage repaired within 3 months

3. CB Richard Ellis | Page 3 The Phuket Property Market Effects of the tsunami  Impact of media coverage during the tsunami  Drop in national, regional and global tourism  Weak international communication campaign on Phuket’s recovery  Limited new feed of property buyers  Buyers delay trips to Phuket hence delay purchase

4. CB Richard Ellis | Page 4 The Phuket Property Market The property market pre tsunami  Phuket as a key resort property market in the region, set for long term growth  Phang Nga as a tourist destination with few residential property projects

5. CB Richard Ellis | Page 5 The Phuket Property Market The property market pre tsunami Laguna Property Sri Panwa

6. CB Richard Ellis | Page 6 The Phuket Property Market Recovery process  Not a drop in the market, rather a long low season  Education campaigns overseas  Communication on good performances: reassurance factor  Strong offering  Phuket’s Unique Selling Points

7. CB Richard Ellis | Page 7 The Phuket Property Market Recovery process Patong Beach, 4 th Feb. 2005 Khao Lak Beach, 4 th Feb. 2005 (in front of the Merlin Resort)

8. CB Richard Ellis | Page 8 The Phuket Property Market Phuket Unique Selling Points  Global access  World-class facilities: hospitals, international schools, golf courses  Stunning beaches  Developed infrastructure  Low cost of living  Thai hospitality in Thailand’s premier foreign resort

9. CB Richard Ellis | Page 9 The Phuket Property Market The property market post tsunami  Buyers and developers remain confident in Phuket’s potential  No desperate sales or discounts  Active projects closing sales in Q1, 2005  Easter 05, Dec. 05 & Easter 06 particularly active  New benchmark prices achieved

10. CB Richard Ellis | Page 10 The Phuket Property Market Projects selling Royal Phuket Marina Bel Air Panwa Cape Yamu Layan Estate

11. CB Richard Ellis | Page 11 The Phuket Property Market 2006 - Market Overview Demand  Rising demand  More global buyers Supply  Numerous new projects  New areas actively developed  More professional development  Wide spectrum of properties on offer

12. CB Richard Ellis | Page 12 The Phuket Property Market Examples of New Supply Project Name : Trisara Phase C Type : Villas Location: Nai Thon Price : 105 - 211 million baht Source: CB Richard Ellis Research

13. CB Richard Ellis | Page 13 The Phuket Property Market Examples of New Supply Project Name : The Bay Type : Villas Location: Cape Yamoo Price : 23.5-60 million baht Source: CB Richard Ellis Research

14. CB Richard Ellis | Page 14 The Phuket Property Market Examples of New Supply Source: CB Richard Ellis Research Project Name : 8 th Heaven Type : Villas Location: Phang Nga Price : from 80 million baht

15. CB Richard Ellis | Page 15 The Phuket Property Market Examples of New Supply Source: CB Richard Ellis Research Project Name : The Heights Type : Condominium Location: Kata Price : 15-37.5 million baht

16. CB Richard Ellis | Page 16 The Phuket Property Market Prospects  Continuous improvement of facilities & infrastructure  Good capital appreciation  More projects to be launched  Strong demand to continue  Development of property rentals

17. CB Richard Ellis | Page 17