Clarification of the change in net assets in excess of 20%

NO.Jortor 11-530098 10 August 2010 Re: Clarification of the change in net assets resulting from operations in excess of 20% in CPN Retail Growth Leasehold Property Fund (CPNRF) To: The President The Stock Exchange of Thailand SCB Asset Management Co., Ltd., the management company of CPN Retail Growth Leasehold Property Fund ("The Fund"), would like to clarify that the increase in net assets from operations for the second quarter of 2010 (1 April to 30 June 2010) in excess of 20% comparing to the same period of 2009, Baht 166.84 million representing a 66.52% increase, was primarily a result of an investment in leasehold of Central Plaza Pinklao Complex ,Central Pinklao Office Building Tower A and Tower B the fund made invested on 4 November 2009.The aforementioned investment has led to a significant increase in net investment income for the fund since. Please be informed accordingly. Yours Faithfully, CPN Retail Growth Leasehold Property Fund By SCB Asset Management Company (Mr.Poom Osatananda) Executive Vice President, Investment Management Group