-Translation from Thai Text-
13 March 2006
Subject :Investment with Industrial Design Network Co., Ltd.
To : The President
The Stock Exchange of Thailand
The Board of Directors' Meeting of Pico (Thailand) Public Company Limited,
("Pico") No. 2/2006 held on March 10, 2006 has approved to invest in the
following company.
1.Approved Pico's investment in IBRIX Company Limited
1.Date of transaction Within April 30, 2006
2.Company's name IBRIX Company Limited
3.Registered capital Baht 5.0 million (Fully paid)
4.Shareholding structure Industrial Design Network holds 60%
Pico (Thailand) Plc. holds 40%
5.Source of funds Company's working capital
6.Propose To operate a trade/merchandise services
and other related businesses
7.Expect returns Dividend
8.Transaction type The investment in the above is the acquisition
an disposal of assets of which total transaction value is less than 15% of
Net Tangible Asset (NTA), and the characteristic of transaction are not the
connected transactions by Notification of the Board of Governors of the Stock
Exchange of Thailand. Therefore, the Company herein discloses the relevant
details to the Stock Exchange of Thailand
Please be informed accordingly
Yours sincerely,
(Signed) -Signature-
(Mr. Pised Chungyampin)
Chief Executive Officer
Pico (Thailand) Public Company Limited