It is a policy of the Fund Project to pay dividends to the Unitholders at least twice a year. However, the Management Company may consider paying extra dividends other than dividend payment as aforesaid to the Unitholders as the Management Company may deem necessary and proper.

(1) In the case that the Fund realizes a net profit in any accounting period, the Management Company shall pay dividends to the Unitholders not less than 90% of the net profit, not including the profits not yet realized from the appraisal or review of appraisal of the immovable properties and leasehold rights during such relevant accounting period;

(2) In the case that the Fund realized retained earnings in any accounting period, the Management Company may also pay dividends to the Unitholders from such retained earnings.

Payment of dividends under (1) shall not increase retained loss in such accounting period.

In payment of dividends under (1) and (2), the Management Company shall make such payment to the Unitholders within 90 days from the last day of relevant accounting period. In the case that the Management Company is unable to pay dividends within the said period of time, the Management Company shall notify the Unitholder via the Stock Exchange of Thailand and give a written notice to the Office of the SEC.

Additional Conditions:

In considering the payment of dividends, if the dividend per Investment Unit to be declared during a fiscal year is lower than or equal to Baht 0.10 per unit, the Management Company reserves the right not to pay those dividends and carry forward those dividends to be paid together with the dividends as of the end of the fiscal year.

With respect to the rules for paying dividends, the Management Company shall comply with those stipulated herewith, unless otherwise amended, added, announced, stipulated, instructed, approved and/or relieved by the SEC, the Office of the SEC and/or any other agency with the power according to law, which the Management Company shall comply accordingly. Also, the aforesaid money may be used in the businesses relating to the operations of the Fund, such as repair of immovable properties or additional investment in leasehold rights, provided that it shall not exceed the power of the Investment Committee or the Management Company and that the Fund shall have a system to manage rental deposit when a lessee exercises the right to demand of a refund of such deposit amount.