SET Announcements

Tor: 17/2550 August 31, 2007 Subject: Inform of Share Repurchase of a Subsidiary Company To: President The Stock Exchange of Thailand Loxley Public Company Limited ("the Company") received the resolution from Loxbit Public Company Limited ("LOXBIT"), a subsidiary company of the Company held the Extraordinary General Shareholders Meeting of shareholders on August 28, 2007, approved on the proposed share repurchase for financial management as the below details: 1. The share repurchase program 1.1 The maximum amount for the share repurchase is 58.59 million Baht. 1.2 Number of shares repurchase not to exceed 37,000,000 shares (at par value of 1.00 Baht per share) or equal to 9.86% of the total of paid-up capital 1.3 Procedure used for the repurchasing of shares: - offer to general shareholders at the price of 1.5834 Baht per share - set the repurchase period from September 27, 2007 to October 16, 2007 1.4 Principle used to determine the repurchase price: - The Company used the consolidated book value price as of June 30, 2007 as a benchmark to determine the proper repurchase price. 2. Information of the Company 2.1 The Company's retained earnings and excess liquidity is based on the Reviewed/Audited Financial Statements as of June 30, 2007 - The Company's retained earnings were 74.46 million Baht. - The Company's debts to be due within 6 months from the date on which the shares will be repurchased is equal to about 50 million Baht. - Explain the ability of the Company to repay the above mentioned debts and specify the source of funds for such repayment. When deeming the Company's excess liquidity by the ability to repay debt of six-month due October 2007 - March 2008, it is found that the interest and principal which shall be due within the next six months is approximately 50 million Baht; whereas, the current cash and other resources available is approximately 295 million Baht. 3. Reasons for the proposed share repurchase 3.1 To maximize the Company excess liquidity management 3.2 To increase the return on equity (ROE) and the earnings per share (EPS) 4. Impacts after the share repurchase 4.1 Impact on the shareholders: This will raise the ROE ratio and earnings per share. 4.2 Impact on the Company: This will lead to a decrease in the Shareholders' Equity in the consolidated financial statements of the Company. 5. Description of the resale of shares and of the shares written off - Procedure for the resale of shares: offer to private investors and/or public - Period for the resale of shares: from March 27, 2008 to March 27, 2011 (by 6 months from the completion date of share repurchase program but no longer than 3 years) - Principle used to determine the resale price: The Company shall follow the applicable laws and regulations of the Public Limited Company Act. The resale price shall be based on the rate of return on the investment at that time. If the Company does not or is unable to resell the repurchase shares within the above period, the Company shall write off the remaining unsold repurchase shares and reduce its equity capital. 6. Shares repurchased in the past (if any) - None - Please be notified accordingly. Sincerely yours, Loxley Public Company Limited (Mr. Pichai Mooputtarak) Secretary of Board of Director