10 August 2010

Appraisal of Asset of CPNRF
Jortor 11-530097 10 August 2010 Re: Details of Assets To: The President The Stock Exchange of Thailand SCB Asset Management Co., Ltd. as the management company of CPN Retail Growth Leasehold Property Fund ("the Fund") would like to notify the details of assets as of June 30, 2010 as follows Project Central Plaza Rama 2 Central Plaza Ratchada-Rama 3 Central Plaza Pinklao Characteristic Invest in subleasehold right on the Invest in leasehold right in the Invest in subleasehold land on land where Central Plaza Rama 2 is land and the Central Plaza which Central Plaza Pinklao is located and the leasehold right in Ratchada-Rama 3 shopping located and the leasehold right parts of Central Plaza Rama 2 as complex as well as parking space in parts of Central Plaza Pinklao well as the car park building, uitilities within building as well as the relevant parking system, a wastewater treatment space(in proportion to the system and the facilities of Central utilization area) and leasehold Plaza Rama 2 right in 2 office buildings called Central Pinklao Tower A and Tower B Location No. 128, Moo 6, Rama 2 Road, No.79, 79/1 to79/2, 79/4 to 79/333 No. 7/3 to 7/128, 7/129 to 7/221, Samaedam, Bangkhuntien, Sathupradit Road, Chong Nonsri, 7/222 to 7/552, 7/553 Bangkok. Yannawa, Bangkok Borommaratchachonnani Road, Arunamarin, Bangkok Noi, Bangkok Appraiser 15 Business Advisory Limited reviewed value of Central Plaza Rama 2 and Central Plaza Rama 3 Thai Property Appraisal Lynn Phillips Co.,Ltd. reviewed value of Central Plaza Pinklao and office towers Project Central Plaza Rama 2 Central Plaza Ratchada-Rama 3 Central Plaza Pinklao Appraisal Value 5,990,000,000 Baht 5,288,000,000 Baht 5,865,700,000 Baht Valuation Date December 8, 2009 December 8, 2009 December 28, 2009 Calculation Period 15 years 8 months 85 years 8 months (including right Approximately 15 years to renew Lease Contract 2 times, 30 years per time) Appraisal Method Income Approach Investors may request for more details of the appraisal report at the Management Company. Please be informed accordingly. Yours faithfully, CPN Retail Growth Leasehold Property Fund By SCB Asset Management Company ( Mr.Poom Osatananda) Executive Vice President - Invesment Management Group
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