) Related Party Transaction

Company recognized the results of operations of Pathum Thani Water and BJT throughout the full year. Financial Policy Ratio The debt to equity ratio of the Company and its subsidiaries as of 31 December 2007 was higher than that of 31 December 2006 since during the year 2007, the Company borrowed the short-term loan from financial institutions amounting to Baht 3,000 million. However, in May 2008, the Company already repaid such short-term loan. Also, the Company and Pathum Thani Water made the long-term loan repayments amounting to Baht 979.51 million, thereby rendering the debt to equity ratio of the Company and its subsidiaries as of 30 September 2008 to be better than that at the end of 2007 15. Other information which may materially affect investors' decisions -None- 16. The latest list of connected persons and interested shareholders without the right to vote as of 20 November 2008 which is the record date, is as follows: Name Relationship Number of Shares Shareholding (%) 1 CH. Karnchang Public Major shareholder 1,408,777,400 35.31% Company Limited of the Company 2 Bangkok Expressway CH. Karnchang is a major 368,750,000 9.24% PublicCompany Limited shareholder holding 15.32% shares 3 Mr. Plew Trivisvavet Director of the Company. 2,997,000 0.08% and CH. Karnchang 4 Mr. Narong Sangsuriya Director of the 2,000,100 0.05% Company and CH.Karnchang 5 Mr. Prasert Director of the Company 2,000,100 0.05% Marittanaporn and CH.Karnchang 6 Dr. Sombat Director of the Company 2,000,100 0.05% Kitjalaksana and CH.Karnchang 17. Appraisal of Assets The Company has approved the appointment of Thai MM Co., Ltd. ("Thai MM") to be the project manager and appraise the civil work construction of the project for the production capacity expansion in the amount of not exceeding Baht 640 million. Thai MM has its registered capital of Baht 5 million and is a well-known construction consultant. Furthermore, Thai MM previously involved in the MRT Blue Line Project, Minburi Water Transmission Tunnel Project of the Metropolitan Waterworks Authority, project for expansion of the tap water production system in Nakhon Ratchasima Municipality, and served as construction consultant of the Department of Public Works and Town & Country Planning, the Bureau of Location and Design, the Department of Highways, etc.