Baht 1 Billion Credit Facilities Agreement Signed for Detroit of the East's Expansion in Rayong

Bangkok, 7 December, 2005 : Hemaraj Land And Development Plc., Thailand’s leading developer of industrial estates, today signed a contract with Thai military Military Bank Plc. to secure Baht 1,060 billion million Credit Facilities Agreement long term financing for its huge expansion and development of Hemaraj Eastern Seaboard Industrial Estate in Rayong. This is a continuation of the company’s flagship Eastern Seaboard Industrial Estate (Rayong) or more familiar as the ‘Detroit of the East’, in continuation of its concept of auto clustering“Detroit of the East”. With as much as 9,759 rai, Hemaraj Eastern Seaboard Industrial Estate doubles Hemaraj’s land bank at Eastern Seaboard to some 17,000 rai. The first phase development of 2,000 rai is ready for sale from January 1, 2006.

The potential of Hemaraj Eastern Seaboard Industrial Estate is high due to its strategic location. Highway 3138, Highway 331 and 331’s extended highway to Laem Chabang make access from the industrial estate to the Laem Chabang Deep Sea Port and Bangkok very convenient.

Hemaraj Eastern Seaboard Industrial Estate is located adjacent to Eastern Seaboard Industrial Estate (Rayong), the “Detroit of the East” auto cluster. Revealing this, Mr. David Nardone, Hemaraj’s President and Chief Executive Officer said that Eastern Seaboard Industrial Estate is a success story with GM, Isuzu exports, Ford, Mazda, more than 25 Toyota group companies, 100 auto suppliers and a total of 180 customers. The outlook is brightened with GM increasing their Thailand’s plant capability with the new paint shop construction and Isuzu expanding their export markets from 70 to 130 countries. It is projected that 25% of vehicles manufactured in Thailand will come from the Eastern Seaboard Industrial Estate. This year Thailand achieved the target of 1 million-vehicle production. According to Global Insight, Thailand will be able to manufacture as many as 1.77 million cars in 2010.

Hemaraj Eastern Seaboard Industrial Estate will provide investors with the Board of Investment Zone III privileges. This industrial estate has been designed for auto clustering, metal fabrication, plastic and polymer, consumer products, electronics, logistics and others.

The Baht 1,060 million Credit Facilities will be allocated to industrial estate and utility development comprising, land grading, roads, electricity distribution, communications, treated potable water plant as well as a waste as well as water treatment system. Out of 2,000 rai of development in the first phase, 700 rai will be allocated for a Customs Duty Free Zone. This will provide auto manufacturers of auto parts and auto part makersother goods with an opportunity to export
their products with duty privileges. This new estate will be an expansion of the “Detroit of the East” concept.

Term of payment will be (please advise the information) ……………………

With as much as 9,759 rai areas, Hemaraj ESIE doubles Hemaraj’s land bank on the Eastern Seaboard. The first phase development of 1,700 rai is now ready for sale.

Currently, the second phase is under development and (construction report) ……………………….

About Hemaraj

Hemaraj Land And Development Public Company Limited is Thailand’s leading developer of industrial estates, utilities, property and infrastructure customer solutions. Founded in 1988 and listed on the Stock Exchange of Thailand in 1992, today Hemaraj has assets of approximately Baht 8,600 million (USD 210 million) with an appropriate financial structure and a global customer base. Hemaraj currently has six industrial estates/zones under development and management, which are Hemaraj Chonburi Industrial Estate, Hemaraj Eastern Industrial Estate (Map Ta Phut), Eastern Seaboard Industrial Estate (Rayong), Hemaraj Eastern Seaboard Industrial Estate, Rayong Industrial Land and S I L Industrial Land (Saraburi). These represent 32,000 rai under development, industrial clusters for petrochemical automotive and other industries, with 320 customers including 100 automotive customers, direct employment for 50,000 people and a customer investment estimated at over USD 10 billion. Hemaraj’s business has evolved from 17 years of experience in the development of industrial estates, utilities, SME Factories for Rent and Sale and the high-end residential condominium “The Park Chidlom”.

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For further information concerning Hemaraj Land And Development Plc., please visit our website at www.hemaraj.com and www.theparkresidence.co.th
Or contact:-
Corporate Marketing Department
Hemaraj Land And Development Public Company Limited
18th Floor, UM Tower, 9 Ramkhamhaeng
Suanluang, Bangkok 10250, Thailand, Tel: 662-719-9555 to 9
Email : marketing@hemaraj.com
Or contact:-
BrandComm Consultants Co., Ltd.: Tel. 0-2645-0171
Ms. Pailin Buranamittranond / Ms. Nattapat Chotipitakkul