Thai Summit 318 Rai Purchase at Hemaraj Eastern Seaboard Industrial Estate

Bangkok, 25 May 2007 – Hemaraj Land And Development Plc., Thailand’s leading developer of industrial estates, utilities and property, and Thai Summit Group, Thailand’s leading auto parts manufacturer, today signed an agreement for the sale of 318 rai of land at Hemaraj’s newest industrial estate, Hemaraj Eastern Seaboard Industrial Estate (Hemaraj ESIE), dubbed the Detroit of the East continues.

The industrial estate land purchase, which is the largest purchase to date at Hemaraj ESIE, is Thai Summit’s second large land purchase with Hemaraj Land And Development.

Hemaraj ESIE continues Hemaraj’s Detroit of the East auto manufacturing cluster concept and is Thailand’s key expansion area for auto manufacturing with over 8,200 rai. Hemaraj ESIE recently opened adjacent to its well established Eastern Seaboard Industrial Estate (Rayong), the flagship industrial estate of Hemaraj home to GM, Ford, Mazda 25, Toyota group companies and over 116 automotive customers on approximately 8,600 rai of land.

“Foreign and local automotive companies continue to trust their business at Hemaraj industrial estates,” said Mr. David Nardone, President & CEO of Hemaraj Land And Development Plc. “Thailand’s dynamic auto market provides growth opportunities for leading world class local auto manufacturers as evidenced by the resounding success of Thai Summit Group. Hemaraj’s auto clustering concept ensures that OEM’s as well as first second and third tier auto parts manufacturers are in close proximity offering competitive supply line and logistic advantages as well as easy access to shipping and cargo such as at Laem Chabang Deep Sea Port.”

Clustering also ensures the efficient centralization the management of basic infrastructure and allows for well-planned water treatment systems, waste disposal, and energy distribution for the benefit of the environment and public.

“We congratulate the continued successful expansion plans of Thai Summit Group, a valuable industrial partner with Hemaraj for many years” exclaimed Sawasdi Horrungruang, Hemaraj’s Chairman of the Board. Thai Summit Group is a repeat customer for Hemaraj Land And Development. Its earlier purchase are factories located on 65 rai of land at Eastern Seaboard Industrial Estate (Rayong), amidst the sprawling automotive supply chain. Thai Summit Eastern Seaboard manufactures stamping and plastic parts for almost all vehicle brands in Thailand. . The Thai Summit Group is the largest automotive parts manufacturer in Southeast Asia. From 2007, Thai Summit’s vision is moving forward to be a supplier on the global playing field.

“We are confident to invest further in Hemaraj’s welcoming manufacturing environment, and especially at Hemaraj ESIE,” said Ms. Somporn Juangroongruangkit, President of Thai Summit Autoparts Industries Co., Ltd. “We are buying the land for three reasons. Firstly, we are planning to keep the land for future expansions that will compliment our existing parts factory at the Eastern Seaboard Industrial Estate (Rayong). Secondly, Thai Summit fully supports Hemaraj’s Detroit of the East concept because the automotive sector is composed of multiple tiers of businesses that support each other. Thirdly, Thai Summit appreciates the top-of-the-line infrastructure and services provided by Hemaraj.”

“Hemaraj is a pioneer industrial estate developer in that it thinks not only about the future of its own business, but about the future of its clients businesses and the future of Thailand’s economy,” she concluded. “For this reason, we look forward to continuing to be Hemaraj Land And Development’s strategic partner.”

About Thai Summit
Thai Summit Group was established in 1977. As a prominent player in Thailand’s automotive parts industry, it serves the automotive, motorcycle, agricultural machinery and electrical appliance industries. The company operates over 30 subsidiaries, has a yearly combined turnover of 32 billion baht, and more that 17,000 employees, with business diversification and expansion plans in Malaysia, India and Indonesia and many more sites across Asia in the future.