Thai Depository Exempts Tsunami Recovery Fund From Fees

Ms. Nongram Wongwanich, President of Thailand Securities Depository Co. Ltd. (TSD), announced that, on May 22, 2006, TSD Board of Directors passed a resolution exempting the Tsunami Recovery Fund from all depository service and clearing fees, in support of the state-initiated project. The exemption applies from May 15, 2006.

The fund’s exemption covers deposit, withdrawal, transfer and custody fees. The TSD regards the fund as an important government project aimed at assisting business operators in the six Tsunami-hit provinces in southern Thailand. Tsunami Recovery Fund was introduced on February 28, 2005. Its fund managers and custodians receive no fees or income from managing the fund.

On a different topic, the Board also resolved to exempt 18 Derivative Market member companies, utilizing the services of Back Office Service Bureau (BSB) on April 28, 2006, from fees, in recognition of the inauguration of derivatives trading by Thailand Futures Exchange PCL (TFEX)