Bangkok--23 Nov--SET Major Development PCL, a high-end condominium developer, will be listed in the Property and Construction Industry Group on The Stock Exchange of Thailand (SET) on November 27, after raising THB 940 million (approx. USD 27.65 million) for business expansion and debt servicing. The company uses “MJD” as its trading symbol and will be listed in the Property Development Sector, Property and Construction Industry Group, SET Executive Vice President-Capital Market Opportunity Center Mr. Vichate Tantiwanich said. MJD has total paid-up capital of THB 700 million, consisting of 500 million existing common shares and 200 million capital increase shares, with a par value of THB 1.00 each. During its initial public offering (IPO) on November 16, and 19 - 20, the firm offered 200 million shares to the general public at THB 4.70 per share - a total value of THB 940 million. Proceeds from fundraising will be used for project development, working capital and debt repayment to financial institutions. The firm’s dividend payment policy is to pay no less than 40% of net profit after taxes and reserves. MJD’s IPO price reflects institutional investors’ demand for book-building within a range of THB 4.30 — 4.70, or price/earnings (P/E) ratios of 11.6 — 12.6, (which this firm has, based on its 2006 profits divided by total shares after IPO). Thai Strategic Capital is the company’s financial advisor, while TISCO Securities acts as its lead underwriter. The firm’s developments are in urban areas and major tourist attractions. Currently, the company is developing 8 projects—Fullerton Sukhumvit, Watermark Chaophraya River (Towers A and B), Manhattan Chidlom, Wind Sukhumvit 23 and Wind Ratchayothin, Aguston Sukhumvit 22 and Mykonos Hua Hin. These projects are worth THB 13,800 million in total and will be completed in the next few years. MJD has the Poolvoralaks Family as its major shareholder, collectively holding 71.40% of paid-up capital after the IPO. For more information on MJD, please visit their corporate website at www.majordevelopment.co.th, SET’s website at www.set.or.th or SETTRADE.Com’s website at www.settrade.com For more information, please contact the Corporate Communications Dept.: Ladawan Kantawong Tel: 0-2229-2036 / Sarinluck Jitkawong Tel: 0-2229-2037 / Nattaporn Boonprapa Tel: 0-2229-2049 / Watsamon Saowakhonsathien Tel: 0-2229-2797