1. Thailand Futures Exchange August 10, 2005 Kesara Manchusree Managing Director

2. The Stock Exchange of Thailand 99.99% Thailand Futures Exchange Established in 2004 Paid up capital USD 2.5 mln. Thailand Futures Exchange Established in 2004 Paid up capital USD 2.5 mln. Thailand Clearing House Established in 2004 Paid up capital US$ 2.5 Mil. + Reserved fund from parent US$ 10 Mil Thailand Clearing House Established in 2004 Paid up capital US$ 2.5 Mil. + Reserved fund from parent US$ 10 Mil About TFEX

3. Mission To be a world class exchange for the trading and hedging of Thai derivatives products Commitment Offering an efficient infrastructure to our market participants with easy access and at a reasonable cost. Maintaining a fair, orderly and transparent market. Customer oriented and new products development. Promoting knowledge based environment.

4. Business Strategy Build brand awareness and image Reach and influence target market Tools: Seminars Publications Road show Enhance knowledge and understanding in the existing and draw attention to new products by organizing educational and promotional programs for both foreign and local investors Simulation trading Competition Event marketing: local& overseas Public Relation Education & Marketing Education & Marketing Increase product coverage & enhance liquidity Launch new products line including sector index futures, Bond or S-T interest rated futures and Index options & Stock options Launch incentive programs to attract market maker to help provide liquidity. Internet trading, direct access Partner with members to improve quality and expand number of sales force Product & liquidity Market Access

5. TFEX’s Product Universe Futures Options Options on Futures Futures TypeUnderlying Equity IndexIndex Individual stocksIndividual stocksDebt Interest rate Interest rate Bonds / Bills Bonds / Bills Others CurrencyCurrency GoldGold Crude oilCrude oil Etc.Etc. The first product will be SET50 Index Futures Bond/interest rate futures, index and stock options are planned to launched during the first two years are planned to launched during the first two years

6. TFEX member The first brokerage membership opportunity in TFEX was announced in late May this year.The first brokerage membership opportunity in TFEX was announced in late May this year. The first group of brokerage members will be clearing members.The first group of brokerage members will be clearing members. The final list of TFEX member will be announced in late August.The final list of TFEX member will be announced in late August. Incentive program for liquidity provider will soon be launch to attract those who wish to make maket in TFEX.Incentive program for liquidity provider will soon be launch to attract those who wish to make maket in TFEX.

7. Our Product Highlight Representative of Thai investable stocks. Based on the top 50 listed companies which are most liquid and largest in size. Highly correlated with SET index. Command 70% of total market capitalization and cover 60% of daily trading volume. Daily Volatility of 1.15% Easy, fast and efficient through TFEX integrate trading and clearing system. ( OMX Click XT and SECUR) No capital gain tax for individual investors Contract size of UD$ 12,500.

8. The Thai Market Movement: Jan 03 – Jul 05

9. Size and Volume of the Thai Market

10. SET50 Index Futures (Draft) Underlying indexSET50 Index Multiplier1,000 Baht. ( Contract’s size is approximately USD 12,500) Minimum Price Fluctuations 0.10 index points Price Limit+ 30% of the previous day settlement price Trading Hours Before and after stock market 15 minute Contract Month Listed March, June, September, December up to 4 quarters Speculative Position limit 10,000 net long or short in any contract month or all contract months combined. Bona fide hedger may request for exemption. Settlement MethodCash Settled Final Trading DayThe business day immediately preceding the last business day of the contract month Final Settlement Price The Settlement Price shall be the numerical value of the SET50 Index, rounded down to the nearest two decimal points the average of value of the SET50 index taken at one minute interval during 4:00p.m. - 4.30p.m. plus the closing SET50 index value, after deleting three highest and lowest value.

11. Opportunities at TFEX Thailand is one of the fastest growing economy in Asia with population over 60 Million.Thailand is one of the fastest growing economy in Asia with population over 60 Million. Great potential growth of capital market with highly liquid stock market.Great potential growth of capital market with highly liquid stock market. Open economy with large numbers of international brokers.Open economy with large numbers of international brokers. No restriction on foreign investors & No transaction tax.No restriction on foreign investors & No transaction tax. Launching date (soft launch) in Nov 05.Launching date (soft launch) in Nov 05.

12. Thailand Futures Exchange www.tfex.co.th For More Information Please contact our at 662-229-2757