Joint venture between Rayong Purifier and Sammakorn

BackJun 15, 2006

RPC/HO-SET/ELICID-0015/06
     
      June 15th, 2006
     
      Subject    Joint venture between Rayong Purifier and Sammakorn to
                        establish Pure Sammakorn Development Company Limited
     
      To             President
                       The Stock Exchange of Thailand
     
      Rayong Purifier Public Company Limited (RPC) and Sammakorn Public
      Company Limited (SAMCO) have set up a joint venture, namely Pure
      Sammakorn Development Company Limited (PSDC) in order to develop
      land in Bangkok and surroundings for Community Malls.  With the latest
      modern style, the shopping mall will be fully integrated among shops,
      various services, and a "Pure" gas station.  The customer doesn't need to
      go downtown anymore, especially when the cost of living is skyrocket.
     
      Joint venture between RPC and SAMCO at this occasion is considered to
      be the beginning of the business synergy in which special expertise from
      both companies is utilized fully.  RPC specializes in the petroleum and
      petrochemical business, owning a leading medium size refinery, which
      produces a wide range of high-quality petroleum products.  In addition,
      RPC engages the gas stations under "Pure" brand.  This is to provide an
      alternative to customers who care for high-quality petroleum products and
      fair price.
     
      While SAMCO has long expertise in real estate business, being accepted
      and respected by customers more than 30 years.  SAMCO posses vacant
      land in many community zones and able to develop them to maximize their
      usage.
     
      Therefore, besides a pleasant community with a reasonable price, the
      joint venture can develop the existing plot of land to become business and
      service zone in a modern Community Mall style, which is aligned with
      community's needs in each location, under the investment of Pure
      Sammakorn Development Company Limited.
     
      Both companies have signed the Joint Venture Agreement on June 15th,
      2006, with registered capital of Bath 50 million, 51 percent from RPC and
      49 percent from SAMCO.  The first Community Mall will be developed
      under the name of "Pure Place" and will be located in front of Sammakorn
      Village, Rangsit Klong 2, Rasit-Ogkarak Road Km. 4.  The project will be
      completed and opened in early 2007.
     
      Please be so informed.
      
      Sincerely Yours,
     
     
      Ms.Siraporn  Krishnakan
      Assistant Managing Director