KSI Realty's Conference on Thailand Real Estate Market at the 2011 Hong Kong SMART Expo (11 December 2011)

1. THAILAND’S PROPERTY OUTLOOK 2012 Pattama Chantranukul, BA Cert.Appraisal, LRTI - Lincoln Inst. AGENCY FOR REAL ESTATE AFFAIRS Marc-Henri J . Kijner, LLC - MBA KIJNER & SONS INTERNATIONAL REALTY Photo courtesy of: Thai Log

2. AGENCY FOR REAL ESTATE AFFAIRS

3. An independent property consultants specializing in international standard valuation, survey, research and information services while refraining from real estate brokerage and self - interest property development to avert a potential conflict of interest, thereby ensuring the integrity of our valuation and research work.

4. GLOBAL COMPACT for transparency Signed in front of Mr.Watana Muangsook, H.E. Minister of Industry and UN exec. (May 13, 2005) 2005 Winner of the Ethical Corporation of the Thai Chamber of Commerce AREA, the only and wholly ISO 9001-2008 certified property consultant firm in Thailand since 2000 AREA winning the Prize on the Sufficiency Economy Concept of His Majesty the King in 2007

9. BANGKOK REAL ESTATE MARKETS

11. 1, 317 Existing Housing Projects Which Still Have Units Available for Sale as of Mid 20 11 955 projects with > 20 units available

12. Newly Launched Real Estate Projects Jan- Jun 201 1 233 projects

15. Example of a Newly Launched Development Le Monaco (Ari, Bangkok)

16. Best Condo Development 2 nd Price at Property Award

17. Best Condo Development 2 nd Price at Thailand Property Award December 7 th 2011

20. Source : Knight Frank Residential Research, Economist Intelligence Unit BANGKOK : THE CITY FOR INVESTORS

21. Housing Units Remain As of June 2011

22. PHUKET REAL ESTATE MARKETS

23. Map of Resort Homes and Condominiums in Phuket as of November 2011 114 Projects

24. Table 1: Situation of the Resort Property in Phuket offered for sales as of November 2011 Overall as of November 2011

25. Table 2: Situation of the Resort Property in Phuket offered for sales as of November 2011 Villa as of November 2011

26. Condominium as of November 2011 Table 3: Situation of the Resort Property in Phuket offered for sales as of November 2011

27. PROPERTY PRICE CHANGES

29. Land Price Changes in the BMR 1985-2011

30. Map 8 : Top Ten Locations with Highest Price a s of 2011 (4 Rai)

31. Map 9 : T OP 10 Locations with Lowest Price a s of 2011 (4 Rai)

32. Phuket’s Beach Land Prices: July 04 Apr. 05 Mar. 07 Mar. 08 Aug. 09 Mai Khao Nai Thon Bang Tao Surin Patong Karon Kata Rawai Ao Maphrao Ao Po Sapam Phuket 5.0 | 5.0 | 7.0 | 8.0 | 8.5 7.0 | 7.0 | 8.0 | 10.0 | 11.0 7.5 | 7.5 | 10.0 | 11.0| 12.0 9.0 | 10.0 | 12.0 | 14.0| 15.0 40.0 | 40.0 | 60.0 | 70.0| 80.0 20.0 | 20.0 | 25.0 | 30.0| 35.0 10.0 | 12.0 | 15.0 | 18.0| 20.0 5.0 | 5.5 | 6.0 | 7.0| 7.5 2.5 | 3.0 | 4.5 | 5.0| 5.0 3.0 | 3.5 | 4.5 | 5.0| 5.0 3.0 | 3.3 | 4.0 | 4.5| 4.5 6.0 | 6.5 | 7.0 | 8.0| 8.5 Chalong 5.0 | 5.5 | 6.0 | 7.0| 7.5 Ao Kung 2.0 | 2.2 | 2.5 | 3.0| 3.0 Nai Yang 6.0 | 6.0 | 8.0 | 9.0 | 9.5 Kamala 10.0 | 12.0 | 15.0 | 16.0| 17.0 Serae 5.0 | 5.0 | 7.0 | 8.0| 8.0

34. THANK YOU QUESTIONS & ANSWERS [email_address] [email_address]