Notification of the Office of The (Translation) PAGE (Translation) -4- Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for

of the Office. In issuing the notification in accordance with the first paragraph, the Office shall specify the following important matters: (1) capital fund, net total assets and business operation of

this English translation is strictly for reference. 3 Notification of the Securities and Exchange Commission No. Kor Thor. 66/2547 Re: Maintenance of Financial Position of Licensed Derivative Brokers

UNOFFICIAL TRANSLATION Readers should be aware that only the original Thai text has legal force, and that this English translation is strictly for reference. - 5 - Notification of the Securities and

undertake any responsibility for its accuracy, nor be held liable for any loss or damages arising from or related to its use. ----------------------------- Notification of the Securities and Exchange

responsibility for its accuracy, nor be held liable for any loss of damages arising from or related to its use. The Securities and Exchange Commission Notification of the Securities and Exchange Commission No

, prior to the effective date of this Notification, the derivatives broker has existing subordinated liabilities, which are not included in the calculation of the total liabilities under Clause 2, in the

August 2004 ; Clause 2 In this Notification: (1) “ net capital ” means liquid capital deducted by risk haircuts ; (2) “ liquid capital ” means liquid assets deducted by total liabilities ; (3) “ liquid

securities company ; “ collateral ” means the total sum of the collateral pledged by the client for its exposure to derivatives according to the rate or value stipulated by the Notification of the SEC Office

reference. 4 Notification of the Securities and Exchange Commission No. Kor Khor. 8/2554 Re: Approval for Undertaking Derivatives Business in the Category of Derivatives Brokerage Limited to Precious Metals