Quality Hospitality Leasehold Property Fund lists on Thai bourse

ข่าวหุ้น-การเงิน Wednesday April 2, 2008 09:24 —PRESS RELEASE LOCAL

Bangkok--2 Apr--SET Quality Hospitality Leasehold Property Fund’s securities will commence trading in the Property Development Sector of the Property and Construction Group of The Stock Exchange of Thailand (SET), using “QHOP” as its trading symbol on April 3, SET Executive Vice President-Listing and Investor Marketing Center Vichate Tantiwanich said. The fund has a total value of THB 1,913 million, consisting of 191.3 million investment units, with a par value of THB 10 each. At its initial public offering (IPO) during March 11 - 13, ING Funds (Thailand) Co., Ltd., which is QHOP’s fund manager, offered all investment units to the general public at THB 10 each. QHOP is a non-redeemable and specific property fund. The company will invest in Amari Boulevard Hotel, worth THB 1,830 million, for 30 years. This property is a four-star hotel located in a prime business, entertainment and shopping district. Currently, the hotel is operating under a management contract between Quality Inn Co., Ltd., the owner of the property, and Amari Hotels and Resorts Co., Ltd., the hotel manager. In the future, QHOP may consider making additional investments and/or making adjustments to its investment portfolio by focusing on hotel properties, serviced apartments, offices and/or retail spaces within hotels and renewing the Amari Boulevard Hotel lease agreement. The firm’s policy is to pay a dividend to its unit holders at least once a year, totaling 90% or more of the year’s net profit or retained earnings, when the fund shows a net profit or retained earnings. QHOP’s major shareholders are Quality Inn Co., Ltd. Social Security Office and TMB Bank PCL, which hold stakes of 33.33%, 32.93% and 17.67% respectively. For more information on QHOP, please visit www.ingfunds.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

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