Information Regarding The Exercise Of TFD-W1, 31/03/2005

                                    Translation


Ref. AIT/05-123                       
                                          March 17, 2005




Subject:      Information regarding the exercise of TFD-W1
To:      All Warrant Holders


Thai Factory Development Public Company Limited would like to report
on the information regarding the process of exercising the TFD-W1 as
the following details.


1.Date and time for submission of Exercise Intention
  The submission period shall be on working day from the 24th to the
  30th March 2005 during the hours of 9:00 A.M. to 4:00 P.M.
2.Exercise date
  For the end of 1st Quarter 2005, the exercise date is March 31, 2005.
3.Exercise Price
  Baht 1 per share
4.Exercise Ratio
  1 warrant for 1 ordinary share
5.Documents to be submitted
  5.1  The completed subscription form
  5.2  Warrant certificate or the substitution of warrant certificate
       (for scripless)
  5.3  Cheque, draft, or bank order collectable within Bangkok
       Metropolitan made payable to account TFD for Account of Share
       Subscription
  5.4  Documents for warrant exercise
       a) Thai nationality natural person            : A certified correct
                                                     copy of identification
                                                     card
       b) Foreign nationality natural person      : A certified correct
                                                     copy of the Affidavit
       c) Juristic person, established in Thailand      : A certified correct
                                                     copy of the company,
                                                     issued by Ministry
                                                     of Commerce together
                                                     with the evidence of
                                                     the authorized persons
                                                     as specified in the
                                                     clause (a) or (b)
       d) Juristic person, established             : Juristic registration
                                                     with notary
                                                     publiccertification      
                                                     together with the
                                                     evidence of the
                                                     authorized persons as
                                                     specified in the above
                                                     clausse (a) or (b)
                                                            


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6.Contact Place
  Finance and Accounting Department
  Thai Factory Development Public Company Limited
  Head office, 10th floor, JC Kevin Tower,
  98 Narathiwat-Rachanakarin Rd.,
  Yannawa, Sathorn, Bangkok 10120
  Tel.  (662) 676-4031
  Fax. (662) 676-4038-9




Please be informed accordingly.




                                          Faithfully Yours,








                                      Ms. Siriphon  Pinprayong
                                    Assistant Managing Director
                              Administration Information Technology