Symbol: RAIMON
Headline: Offering shares to the investors by Private Placement
Time: 16 Jul 2004 13:35:56

    16 July 2004


President
The Stock Exchange of Thailand
62 Rachadapisek Road, Klongtoey
Bangkok 10110

Subject:Notifying the resolutions of the Board of Directors Meeting


We, Raimon Land Public Company Limited ("the Company"), wish to notify the 
resolutions of the Board of Directors meeting No. 10/2004, held on 16 July 2004, 
as follows:

1.      Adoption of the Minutes of the Board of Directors meeting of the Company 
        No. 9/2004.

2.      Unanimous approval of the Interim Financial Statement of the Company and 
        its subsidiaries for the three-month and six-month periods ended 
        30 June 2004.

3.      Approval by a majority vote (Mr. Jeremy Lechemere King as the management 
        of the certain funds that intend to subscribe the increase ordinary 
        shares in this private placement abstained from the Vote) to offer the
        remaining 117,671,321 ordinary shares (after subscription of the existing 
        shareholders by way of rights issue and excess rights) having a par value 
        of Baht 1.- per share to investors in private placement and/or in
        stitutional investors categorized under the Notification of the Securities 
        and Exchange Commission, No. Kor. Jor. 12/2543; Re: the Application and 
        Permission for Offering Newly Issued Shares, as authorized under the 
        resolutions of the Shareholders Meeting of the Company No. 1/2004 held 
        on 27 April 2004 as follows:


        3.1  Offering Price  :  Baht 1.- per share which is the same price 
                                that the Company offered to the existing 
                                shareholders during 17 to 21 June 2004. 
                                The offering price is based on the 98.06% 
                                of the market price where by the market price 
                                is calculated from the weighted average price 
                                of the trading of the Company shares during 
                                3 June 2004 to 15 July 2004, being 30 (thirty) 
                                business days before (but excluding) the date 
                                of Board of Directors today has a resolution.


        3.2  Subscription and Payment Period    : 19 July 2004 to 23 July 2004.
        
The Criteria that the Board used for considering to offer the ordinary shares 
to the investor in private placement at the price lower than the market are 
as follows;

 (1)    Criteria or conditions in offering the shares to the investors in 
        private placement.
        
        The Board of Directors of the Company has considered that the offering 
        of the shares to the investors in private placement and/or institutional 
        investors will enable the Company to receive the funds in the short 
        period of time and on schedule.

 (2)    Criteria in determining the offering price.
        
        The Company determined the offering based on the price that the Company 
        offered to the existing shareholders. If the offering price is compare 
        with the market price, the price will be at 98.06% of the market price.  

(3)     Benefits enjoyed by the Company from adopting an offer to the investors 
        in private placement.

        (3.1)   The Company would be mobilized fund in a short-time because 
                these investors are interested to invest in the Company.
        (3.2)   Expansion of the shareholders base in order to strengthen the 
                stability of the Company.

And approval by a majority vote with Mr. Jeremy Lechemere King abstained from 
Vote to offer the remaining 117,671,321 ordinary shares to the investors 
in private placement and/or institutional investors as follows:


             Name             Nature of        Nationality   No of shares
                              business
1. Mr. Teo Ek Tor                -            Singaporean          925,000

2. Chelverton Dividend      Fund Management       UK            10,000,000  
   Income Fund Limited  
                                 
3. Mr. Bee Tachaubol             -               Thai            3,000,000

4. Mr. Charoen Korka             -               Thai            3,000,000

5. Private funds by Seamico      -               Thai           25,000,000
   Knight Fund Management 
   Co., Ltd.

6. Knight Thai Opportunities   Investments    St.Kitts & Nevis   2,400,000
   Fund by Knight Asian        Company
   Investments Limited

7. Knight Asian Fund by        Investments   St.Kitts & Nevis    2,400,000
   Knight Asian                Company
   Investments Limited

8. Knight Thailand Fund by     Investments   St.Kitts & Nevis    1,200,000
   Knight Asian                Company
   Investments Limited

9. Knight Thai Strategic       Investments    St.Kitts & Nevis  19,750,000 
   Investments Limited          Company

10. Knight Pacific Fund Limited Investments  British Virgin      9,250,000
                                Company       Islands

11. Mr. Adrian H.C. Fu              -          Hong Kong        20,000,000

12. If Development Limited     Investments    Channel Island    10,746,321
                                Company 

13. Integrity Asset            Investments      Samoa            4,000,000   
    Management (SFC) Limited     Company       

14. Mr. Bertrand Michaud            -           French           1,000,000

15. Ms. Diane Delphine Droin        -           French             500,000

16. Celtic International Limited  Investments    BVI             2,000,000
                                    Company

17. Tremorland Securities Limited  Investments   BVI             2,500,000
                                    Company

               Total                                           117,671,321

These investors do not want to participate in the management of the Company 
and are not the connected persons according to the Notification of 
the Stock Exchange of Thailand Re: Rules, Procedures and Disclosure of 
Connected Transactions of the Listed Companies. 


Please be informed, accordingly.

Yours sincerely,

Raimon Land PLC




Nigel J. Cornick
Chief Executive Officer