Reviewed Quarter 2 and Consolidated F/S (F45-3)

(Reviewed Quarter-2 and Consolidated F/S (F45-3))
                  Report: Reviewed Quarterly Financial Statements

                    Name PICO THAILAND PUBLIC COMPANY LIMITED

                                            Reviewed
                               Ending   30 April          (In thousands)
                                   Quarter 2           For 6 Months
          Year                2006        2005        2006        2005

     Net profit (loss)       23,900      14,982       38,919     28,483
     EPS (baht)                0.21        0.13         0.34       0.25

  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