Appointment of Executive Chairman & Chief Executive Officer

-Translation from Thai Text-


                              September 4, 2006

Subject :Appointment of Executive Chairman and Chief Executive Officer

To :      President
          The Stock Exchange of Thailand


      Pico (Thailand) Public Company Limited ("Pico") would like to
inform that the following resolutions passed by the Board of Directors
Meeting No. 4/2006, which held on 31 August, 2006 during 18.00-20.00 at
Meeting Room's Office, No. 10 Lasalle 56, Bangna District, Bangna
Sub-District, Bangkok 10260

   Appointment of
1. Mr. Pised Chungyampin, Chief Executive Officer to Executive Chairman

2. Mr. Silchai Kiatpapan, Chief Operating Officer to Chief Executive Officer

   Effective on 1 November 2006 onward.

      Please be informed accordingly.

                              Sincerely yours,

                                  -Signature-
                           (Mr. Pised Chungyampin)
                              Chief Executive Officer