Bangkok--7 May--Thanachart Bank Thanachart Bank penetrates the used-car sale and lease back market using car registrations as collateral, after it obtains permission from the Bank of Thailand to engage in this type of business. The Bank introduces its new loan product named ‘Cash Your Car’, aiming to give loans worth 5 billion baht this year. The related strategy places emphasis on the use of its existing hire purchase systems and its experienced marketing staff as well as its branch network in distributing the loan product. During Money Expo, as part of sales promotion, clients whose loan applications receive approval will be given a gasoline coupon worth 1,000 baht. The new product is introduced after the Bank of Thailand gives its approval allowing Thanachart Bank Public Company Limited to engage in the used-car sale and lease back business. The sale and lease back service enables members of the general public who own debt-free cars to pledge them as collateral or receive a car hire purchase loan again. This means that the car owners can now find a source of fund in the market, with the interest rate being lower than those charged for the general consumer loans. Mr. Bundit Cheevadhanarak, Senior Executive Vice President of Thanachart Bank Public Company Limited, says that, after the Bank of Thailand gives its approval allowing the Bank to engage in the used-car sale and lease back business, the Bank introduces a new loan product named ‘Cash Your Car’ to its prospective clients. In this connection, it aims to give loans worth about 5 billion baht in total over the remaining eight months of 2008. The Bank’s related strategy focuses on the use of its existing hire purchase systems and its experienced marketing staff as well as its extensive branch network nationwide in distributing the product. In considering the ‘Cash Your Car’ loan application, the Bank will use the same criteria as those used in considering the car hire purchase loans. As a result, the new loan application will be quickly processed. With respect to the car valuation, if the customers are able to make repayments, the Bank is prepared to provide them with a credit line of up to 100 percent of the car value as well as an installment period of up to 60 months or five years. Mr. Bundit also says that the total number of Thanachart Group’s car hire purchase customers amount to over 1,300,000, of whom about 700,000 are current customers while the remaining 600,000 are those who have already repaid their loans and have their accounts closed. It is estimated that the current number of debt-free cars in the market amount to over 6 million and their owners have not yet converted them into cash. This represents the main target group in the Bank’s marketing activities. The new product introduced by the Bank is significantly beneficial to the target group as they can use the cash to make investments or pay necessary expenses. Mr. Bundit also says that, during Money Expo from 8-11 May 2008 at Queen Sirikit National Convention Center, Thanachart Bank will offer a special incentive to motivate clients to apply for its ‘Cash Your Car’ loan. The clients whose loan applications receive approval will receive a gasoline coupon worth 1,000 baht to help alleviate their expense burdens amidst the rising oil prices. Issued of behalf of : Thanachart Bank Public Company Limited For further Information : Satawat Suakaeo Tel. : 0-2613-6000 # 6461 08-9767-2766