15 May 2013

JorTor. 11-560047 May 15, 2013 To: The President The Stock Exchange of Thailand Re: Clarification of the change in the net increase in net assets from operations in excess of 20% of CPN Retail Growth Leasehold Property Fund (CPNRF) SCB Asset Management Co., Ltd., the Management Company of CPN Retail Growth Leasehold Property Fund ("the Fund"), would like to clarify the change of net increase in net assets from operations for the first quarter of 2013 (3-month period from January 1, 2013 to March 31, 2013) which decreased in excess of 20% comparing to the same period of 2012. The Fund has net increase in net assets from operations of Baht 155.96 million as of March 31, 2013 or an decrease of Baht 368.76 million (70.28%) from the same period last year. It is a result of a net unrealised loss from investment of Baht 368.55 million compared to a net unrealised gain from investment of Baht 35.05 million from the same period last year (equivalent to 1,151.49% change). The net unrealised loss from investment for this first quarter of 2013 is from a decrease of asset's fair value which is appraised quarterly by the appraiser. The reduction is due to the renovation in some lettable area and change in tenancy mix of Central Plaza Rama II to facilitate new anchor tenant who has strong potential. This would have some short term effect to the Fund's income as the existing tenants need to return the lettable area back to the Fund before letting the space to the new one accordingly. However, the Fund expects that the renovation and the change in tenancy mix would enhance the ability to generate income in the long term. As a result, the net increase in net assets from operations as of March 31, 2013 has decreased in excess of 20% when compared to the same period last year. Please be informed accordingly. Yours Faithfully, CPN Retail Growth Leasehold Property Fund By SCB Asset Management Company ______________________________________________________________________ This announcement was prepared and disseminated by listed company or issuer through the electronic system which is provided for the purpose of dissemination of the information and related documents of listed company or issuer to the Stock Exchange of Thailand only. The Stock Exchange of Thailand has no responsibility for the correctness and completeness of any statements, figures, reports or opinions contained in this announcement, and has no liability for any losses and damages in any cases. In case you have any inquiries or clarification regarding this announcement, please directly contact listed company or issuer who made this announcement.