and Exchange Commission No. Kor Jor. 4/2560 Re: Determination of the Definitions of Institutional Investor, Ultra-high Net Worth Investor and High Net Worth Investor ___________________________ By

High Net Worth Investor and High Net Worth Investor . Clause 3 A securities business license applicant and licensee shall have paid-up registered capital of no less than the following amounts: (1) one

having shareholder being person as prescribed in (1) to (13) combining hold shares exceed 75% of share which entitle to vote; (15) foreign investors having qualifications as the investor prescribed in (1

Exchange Act (No. 2) B.E. 2542 (1999) , the Capital Market Supervisory Board hereby issues the following regulations: Clause 1 In this Notification: The terms, “ institutional investor ,” “ ultra-high net

Notification of the Securities and Exchange Commission regarding Determination of Definitions of Institutional Investor, Ultra High Net Worth Investor and High Net Worth Investor . “ private equity ” means a

securities dealing under foreign law; (5) “ retail client ” means a client who is not an institutional investor or a high net worth investor; (6) “ institutional investor ” means an institutional investor as

investment management of mutual fund for institutional investors or ultra- ultra-high net worth investors (Ultra Accredited Investor Mutual Fund) which implements an investment strategy similar to that of a

of Approval for Investor Contacts In continuation of the Notification of the SEC Office No. SorKhor. 15/2548 Re: Approval for Investor Contacts and Standards of Conduct dated 21 June 2005 as amended by

Investor Contacts and Standards of Conduct ______________________ By virtue of: (1) Clause 3(2) of the Capital Market Supervisory Board No. TorNor. 27/2552 Re: Rules, Conditions, and Procedures for

the securities company start-up an operation, it meets the following qualifications; (1) maintain a net liquid capital according to rules prescribed by the notification of the Securities and Exchange