- TRANSLATION -

Ref: MGT/SET/06/008

27 June 2006

Attention:     The President

                    The Stock Exchange of Thailand

Subject:      Award of Construction Project

                    Ocean Portofino Condominium

Christiani & Nielsen (Thai) Public Company Limited is pleased to notify the Stock Exchange of Thailand that the Company has been awarded the following construction project:

Name of Project:                  Ocean Portofino Condominium

Owner:                                 Ocean Property Company Limited

Contract Value:                    Baht 401,250,000 including VAT

Commencement Date:        1 June 2006

Construction Period:            22 Months

Description of Work:            Construction of 37-floor condominium building with 268 units.

Please be informed accordingly.

Yours sincerely,

- Signed -

Danuch Yontararak

Managing Director