transactions are less than 15% of the total assets of the Company and this transaction is not classified as a connected transaction. Yours sincerely, Mr. Itthirit Wipoosiri Managing Director

Supervisory Board No. TorLorThor. 3/2555 Re: Approval for Personnel of Business Operators to Perform Duties of Analyzing Investment and Giving Investment Advice dated January 18, 2012; classified as prohibited

to Perform Duties of Analyzing Investment and Giving Investment Advice dated January 18, 2012; classified as prohibited characteristics of personnel in the capital market according to Clause 6(1) of

and considers the transaction is appropriate and beneficial to the company.The transaction is classified as a related party transaction and an asset acquisition; owing to the fact that one of DEMCO?s

KITHA shares is classified as acquisition of significant asset and related party transaction, the shareholders? resolution alone was unable to satisfy the requirements under regulations under the

KITHA shares is classified as acquisition of significant asset and related party transaction, the shareholders? resolution alone was unable to satisfy the requirements under regulations under the

decision-making.The above transactions are classified as high value acquisition and disposal of assets required the shareholders? meeting approval with the vote of at least three fourths of the shareholders

of the mutual fund over the past five years (or since inception if the fund has been established less than five years), as measured from NAV per unit from peak to trough when NAV per unit declines

of the mutual fund over the past five years (or since inception if the fund has been established less than five years), as measured from NAV per unit from peak to trough when NAV per unit declines

years), as measured from NAV per unit from peak to trough when NAV per unit declines. Maximum Drawdown is the information that helps determine the risk of loss from investing in the mutual fund