News Release

Laguna Resorts & Hotels Public Company Limited ? Capital Increase

We refer to the announcement released on 30 May 2007 relating to the Extraordinary General Meeting to be held on 4 July 2007 ("EGM") by Laguna Resorts & Hotels Public Company Limited ("LRH") in Thailand on the proposed allotment of 127,005,215 new ordinary shares at the par value of Baht 10 each be offered by way of rights issue to the existing shareholders whose names appear in the share register book on 14 June 2007 at the ratio of 1 existing share to 1.5 new ordinary shares at the offering price of Baht 10 per share ("Rights Issue").

The Company wishes to announce it will support the resolution to approve the Rights Issue at the EGM and that it will subscribe for its proportionate full entitlement under the Rights Issue to ensure that we at least maintain our current 51.78% shareholdings in LRH.

  • Jane Teah & Lee Kin Meng
  • Joint Company Secretaries
  • 8 June 2007

  • DBS Bank Ltd and UBS AG, acting through its business group, UBS Investment Bank, were the joint global co-ordinators and bookrunners of the initial public offering of the shares in Banyan Tree Holdings Limited.