Resolution Of the BOD On The Interim Dividend Payment

-Translation -

 2 June 2005

Subject:Resolutions of the board of directors on the
interim dividend payment

Attention:The President
The Stock Exchange of Thailand

Pico (Thailand) Public Company would like to inform the Stock Exchange
of Thailand of the following resolution passed by the Board of Directors
Meeting No. 3/2005 which was arranged on 1 June 2005 from 18.00-19.30 hours.

The meeting approved the payment of interim dividends from the profits
earned from the operations to the Company's shareholder which named in
the shareholder register book on 17 June 2005 at 12.00 noon. The dividend
would be paid at the rate of Baht 0.14 per share for the total eligible
shares of 114,999,980 shares, totaling Baht 16,099,997.20 (Sixteen million
ninety nine thousand nine hundred ninety seven baht and twenty stang).
The payment of the interim dividends is scheduled on 30 June 2005.

Please be informed accordingly.

Yours sincerely,

 Mr. Pised Chungyampin
Chief Executive Officer
Pico (Thailand) Public Company Limited