Reviewed Quarter 3 And Consolidated F/S (F45-3)

               (Reviewed Quarter-3 and Consolidated F/S (F45-3))
                Report: Reviewed Quarterly Financial Statements
                       Name PICO THAILAND PUBLIC COMPANY LIMITED

                                                       Reviewed
                               Ending   31 July      (In thousands)
                                   Quarter 3         For 9 Months
          Year                   2005        2004        2005        2004

     Net profit (loss)         (4,956)    4,865    23,528    25,954
     EPS (baht)                (0.04)    0.04    0.21    0.26

  Type of report:
     Unqualified Opinion
 

    Comment: Please see details in financial statements, auditor's
    report and remarks from SET SMART

     "The company hereby certifies that the information above is
    correct and complete. In addition, the company has already reported
    and disseminated its financial statements in full via the SET
    Electronic Listed Company Information Disclosure (ELCID), and has
    also submitted the original report to the Securities and Exchange
    Commission."

                           Signature ___________________________
                                      ( Mr.Pised Chungyampin )
                           Position Chief Executive Officer

                         Authorized to sign on behalf of the company