Acquisition and disposition of assets The Board of Directors convened a meeting and resolved to approve Bangkok Mass Transit System Public Company Limited ("BTSC"), a subsidiary of the Company, to sell to an infrastructure fund (the "Fund"), which is now in the process of preparing to apply for establishment with the Office of the Securities and Exchange Commission (the "SEC"), the net farebox revenue to be generated from the operation of the core SkyTrain system pursuant to the concession agreement (the "IFF Transaction"). In addition, to support the IFF Transaction, the Company will provide certain support and guarantee BTSC's obligations. After the SEC approves the establishment of the Fund, the Company intends to subscribe for one-third (or approximately 33.33%) of the total issued investment units of the Fund in a proposed public offering of the units by the fund management company. All of the units will be listed in the Stock Exchange of Thailand upon establishment of the Fund. By entering into the IFF Transaction, BTSC expects that it will receive proceeds from the sale of the net farebox revenue to the Fund in an amount of approximately Baht 50,000 - 60,000 million, or higher, which will be subject to several factors such as prevailing market conditions. However, the selling price shall not be less than Baht 50,000 million. After the sale of the net farebox revenue to the Fund, BTSC will still be the operator of the BTS SkyTrain system and the Company will continue to maintain substantial control in the BTS SkyTrain business and to benefit from the economic return from such business (through the 33.3% holding in the Fund, as well as return in the form of dividend). In regard to BTS group's plan for utilizing the proceeds received from the sale of the net farebox revenue to the Fund, the primary utilization is to make BTS group be ready for considering any new investment opportunities in the 4 mass transit routes which the government is currently expediting the process. Secondly, a part of the proceeds will be used for investing in the investment units of the Fund. The Company will then hold one-third of the investment units of the Fund and the Company, as a unitholder, will receive future dividends from the Fund. In addition, if there is any remaining cash and sufficient liquidity, the Company intends to propose to the Board of Directors' Meeting or the Shareholders' Meeting (as the case may be) to consider and approve special dividend payments to shareholders of the Company. However, the decision on such a special dividend payment will be subject to the Company's consideration along with the Company's plans and financial need for the future investment, legal restrictions and other factors. The Company determined the date for the Extraordinary General Meeting of Shareholders No. 1/2012 on Tuesday December 18, 2012 at 14.00 hrs. at Rama Gardens Hotel Bangkok Convention Center, 9/9 Vibhavadi Rangsit Road, Laksi, Bangkok 10210, and determined the date of determining the names of shareholders who shall be entitled to attend the Extraordinary General Meeting of Shareholders No. 1/2012 (Record Date) on November 26, 2012 and the date to gather the names of shareholders under Section 225 of the Securities and Exchange Act B.E. 2535 (as amended) by closing the share register book and suspension of share transfer on November 27, 2012. ______________________________________________________________________ This announcement was prepared and disseminated by listed company or issuer through the electronic system which is provided for the purpose of dissemination of the information and related documents of listed company or issuer to the Stock Exchange of Thailand only. The Stock Exchange of Thailand has no responsibility for the correctness and completeness of any statements, figures, reports or opinions contained in this announcement, and has no liability for any losses and damages in any cases. In case you have any inquiries or clarification regarding this announcement, please directly contact listed company or issuer who made this announcement.