From Strong Beginning ... To be the leading retail developer with world-class experience
CPN was founded on June 17, 1980 with a registered capital of Baht 300 million. Over the past decade, the company has observed a dramatic shift not only in consumer trends but also market demands for more fully intergrated shopping complexes that can offer consumers a total "one-stop-shopping" experience.

As a true market pioneer with a resolved understanding of changing market trends, CPN developed a series of quality mixed-use complexes that can readily meet consumer needs. Among the first to be established was the CentralPlaza Ladprao in 1982, which truely reflects the company's mission to innovate and revolutionize the ideal retail experience.

CPN later observed a significant milestone as it became a Public Company Limited in 1994, and was subsequently registered on Thailand's Stock Exchange in 1995. More importantly, in 2001, CentralPlaza Ladprao became the first-ever shopping center in Thailand to have been certified and awarded the coveted ISO 9001 -2000.

CPN Today

Over 28 successful years, CPN has evolved into Thailand's largest and most sophisticated developer of retail property. Currently the Company owns and manages 10 premium shopping centers, five office buildings and two residential condominiums. With a total gross floor area (GFA) exceeding 1,460,000 squaremetres, CPN is undoubtedly the industry leader surpassing its closest competitor by more than double in size.

The pace of development has intensified during the past seven years. Today's CPN opens, on average, one new shopping center each year and plans to continue this strong rate of growth into the foreseeable future. In 2007, CPN annouced four exciting new projects, due to be completed by 2009 : CentralPlaza Chaeng Wattana, KaonKaen, Chonburi and CentralFestival Pattaya beach.

The Company's long-term strategy envisages the development of its trademark shopping centers in well-identified locations offering high potential both in Bangkok and in major cities throughout Thailand. Its next challenge is to move overseas, exporting its retail property expertise to neighboring countries through the development of innovative World class shopping centers in strategic markets.

Property Overview

Retail		Office
Number of Shopping Centers:	10	Number of Offices	5
Total leasable area (sqm):	697,038	Total leasale area (sqm):	144,791
Number of Tenants:	3,031	Number of Tenants:	261
As of Dec 31, 2007		As of Dec 31, 2007

Looking to the Future

The Path Forward to Strong Corporate Growth
As part of its long-term strategy of continuous property development, CPN has its sight set on eight major projects by 2011 in Thailand and overseas. These include shopping centers in Bangkok at Rama 9 Road and Chaengwattana Road, and in the cities of Khon Kaen, Chon Buri and Pattaya.

A new milestone in Thai retail shopping complex was reached in 2006 when CentralWorld opened in the heart of Bangkok shopping district. CentralWorld has become the largest and most pre-eminent mixed-use shopping complex in Southeast Asia, The CentralWorld shopping complex will feature: over 300,000 sqm of world-class shopping center offering a diverse selection of anchor stores, retail shops, restaurants and entertainment; 80,000 sqm of premium grade office tower; a convention center and meeting complex of 17,000 sqm complementing a 500-room five-star deluxe hotel.

The newly created CPN Retail Growth Property Fund will become the principal source of capital for all the new developments. Selected CPN shopping centers are transferred to the Fund, which then offers shares to outside investment. Judging from the immense popularity of the launch offer, any new share offerings will generate substantial capital to ensure the continuous development of new properties.

In addition to its new development projects, the Company continually enhances its existing shopping centers to be at the cutting edge of retail. The latest retail innovations are studied and introduced; world-class standards of; tenant and customer services, M&E service, cleaning service and security service are implemented in every area of operation. The management system and human resources are strengthened to ensure continued customer loyalty for CPN-branded retail properties.

At the Forefront of Retail Every project of CPN has become a major success. This remarkable achievement has propelled the Company to the forefront of the retail property industry and earned it recognition as one Asia's leading public companies. CPN's goal now is to utilize its outstanding capabilities and experience to explore and successfully develop new business opportunities in Thailand and Southeast Asia.

In 2005, Forbes magazine honored CPN as one of the Top 200 Companies in Asia-Pacific with revenues not exceeding US $1 billion. CPN is proud to be one of only 10 companies in Thailand to be honored, and the only commercial real estate organization.

Today CPN leads the way as the most accomplished retail developer in Thailand with 10 extremely successful shopping centers. Each is a market leader in its community, built on innovative marketing, world-class standards, quality and excellence in operations, earning tremendous customer loyalty for its imaginative blend of anchor stores, retail shops and inventive attractions.

Of the many reasons for the Company's dynamic progress, outstanding human resources continue to be the essential ingredient for success. A skillful and experienced management team works hand in hand with a highly trained and motivated workforce to create a partnership that is the driving force for Central Pattana's impressive achievements.

Strategic Location

A Giant of Retail Development
Retailers believe location is everything. And for over 28 years CPN has used unwavering good judgment in selecting strategic locations for its shopping centers. Long experience in shopping center operations and dynamics coupled with careful surveys of the best locations for trading areas have given its shopping centers the highest potential for success.

From the inaugural development of CentralPlaza Ladprao in 1982 to the latest acquisition of the World Trade Center (renamed CentralWorld) in the heart of Bangkok's foremost shopping district in December 2002 and relauched CentralWorld in 2006, CPN is a remarkable corporate success story.

CPN's Strengths

The Dream Team ... Creating Great Themes

World-Class Standard
To maintain its market leadership and differentiate itself from competitors, CPN continually upgrades all its shopping centers to world-class standards. Quality control is maintained through high-level operating procedures, aiming to bring all shopping centers to ISO 9001: 2000 international standards, and encouraging best quality campaigns among them.

There is an emphasis on security, fire risk reduction and prevention of sabotage through regular drills and inspection of equipment, as well as an increase in CCTV systems and emergency call units.

Furthermore, CPN proactively implements the "TS World Class Service" project to provide service rendered to retail shops in three dimensions; hot line service; one stop service unit; and daily stop visits. It strengthens the relationship with tenants. CPN also conducts survey from customers to better understand their needs, in order to ensure a unique and customized shopping experience for everyone.

Partnership of Trust

Customization

Strong Financial Position
In May 2007, TRIS Rating upgraded the Company's international credit rating from "A" to "A+". This positive step recognizes the Company's growing stature in the region, strong investor confidence in its operations and its continuing financial policy of maintaining a 1:1 net debt to equity ratio to ensure sustainable long-term growth.

Investors expressed very positive interest in the Company's business activities when the CPN Retail Growth Property Fund was launched in August 2005. Highly-rated shares in CentralPlaza Rama 2 and CentralPlaza Rama 3 were placed in the Fund, while the general public was invited to participate in Thailand's largest ever retail property share offering. The response was overwhelming. The share offer was over-subscribed four times by enthusiastic private and institutional investors from within and outside Thailand.

Consistent Growth