                             (FORM 56-1)
             CHIANGMAI FROZEN FOODS PUBLIC COMPANY LIMITED
1. Background
   Name          : Chiangmai Frozen Foods Public Company Limited
   Main business : Producer and exporter of frozen vegetables and fruits
                   such as  Green Beans,  Soy Beans, Carrots, Baby Corn,
                   Rambutan, Lychees, Mangosteens and Longans etc.
   Address       : No. 149/34   Soi Anglo Plaza, Surawongse Road, Kwaeng
                   Suriyawongse, Khet Bangrak,  Bangkok 10500, Thailand.
                   Telephone : (662) 238-4091, 634-0061-4 
                   Facsimile : (662) 238-4090
   The First Factory :  No. 92  Moo 3,  Chiangmai - Phrao  Road,  Tambol
                   Nong  Jom,  Amphur  Sansai, Changwad Chiangmai 50210,
                   Thailand.
                   Telephone : (6653) 498-195-8
                   Facsimile : (6653) 498-199
   The Second Factory :  No. 299  Moo 3,  Chiangmai - Phrao Road, Tambol
                   Mae Fag Mai, Amphur Sansai, Changwad Chiangmai 50290,
                   Thailand.
                   Telephone : (6653) 848-090-6
                   Facsimile : (6653) 848-097
   Capital : Registered capital 21,000,000 shares, each with a par value
                   of 10 Baht  and the aggregate amount is 210,000,000.-
                   Baht.
           : Paid-up capital 21,000,000 shares, each with a par value of 
                   10 Baht  and  the  aggregate  amount is 210,000,000.-
                   Baht.

   Subsidiary company
   Name          : Laiyang Chongtai Frozen Foods Company Limited
   Main business : Producer and exporter of  frozen  vegetables  such as
                   Taro, Spinach, Pea Pods, Gobo, Broccoli, Cauliflower,
                   Carrots, Green Beans etc.
   Address       : Muyudian Town, Laiyang City, Shandong, China 265200
                   Telephone : 001 865 357 810 710-1
                   Facsimile : 001 865 357 810 660
   Capital       : Registered capital US$. 1,000,000.-
                   Paid-up capital    US$. 1,000,000.-

   Name          : C.T. Laiyang Frozen Foods Company Limited
   Main business : Trading Company
   Address       : 1st 3FL. No. 201 Min Sheng 1st Road, Kaohsiung,
                   Taiwan, R.O.C.
   Capital       : Registered capital NT$. 500,000.-
                   Paid-up capital    NT$. 500,000.- 

         There were changes on the  business and  significant changes in 
relation  to  the  business  and  management  of the Company in the past 
five years as follow:
April 4, 1995     The  Shareholders'  Annual  General  Meeting  of  1995 
                  resolved  to  cancel  the  offering  of  shares issued 
                  under  the  capital increase  which was  caused by the 
                  unfavourable  conditions  of    The  Stock Exchange of 
                  Thailand  and  to  approve  the  loan  from  financial 
                  institutions in  the amount of 300  million  bahts for 
                  the  construction  of  the  second  plant  and  as the
                  circulating  capital.   The loan  was  secured  by the 
                  mortgage of land,  building    and  machinery  of  the 
                  second plant.
October 26, 1995  The second plant started to operate.
November 21, 1996 Being  granted  of   additional  investment  promotion 
                  with  the  annual  business  capacity of 7,000 tons of 
                  the   Third   Certificate      pursuant  to  Promotion 
                  Certificate No. 1397/2537   which   led  to  the total 
                  promoted annual business capacity of 12,000 tons.
July 2, 1997      The  Company   was   affected  by   the   Government's 
                  announcement on  baht floating  since the  Company had 
                  the loan burden of 10 million United States Dollars.
September 30,1997 The  Company   completed   the   construction  on  the
                  additional cold atorage at the second plant.
August 28, 1998   The director  meeting  has an  resolution  to allocate 
                  the increase capital share and  collect the  amount to
                  meet as registered.   The increase  capital  share 8.5
                  million shares at par 10 bahts = 85  million  bahts to
                  be allocated  to all old  shareholders  at  ratio  100 
                  old shares: 68 new shares  for expanding the  business
                  or repay for BIBF loan.

August 28, 1998   Appointed the Audit Committee.
October 5, 1998   The director  meeting  has  a  resolution to  join for 
                  investment  in  China  at  ratio  51 %  of  registered 
                  capital 1 million dollars to  proceed the  business of
                  manufacturing  and   distributing  frozen  fruits  and
                  vegetables  and  this shall  review the  result to the
                  operating  result of the company  that  invested since
                  April 1, 1998.
November 13, 1998 The Company  received   amount   of  increase  capital 
                  share 85 million bahts.
November 30, 1998 Registered  capital  increase  paid  from  125 million 
                  bahts to 210 million bahts.
March  3, 1999    To pay all balance amount of BIBF loan 2.4  million US
                  Dollars.
October  28, 1999 Acquired investment promotion in manufacturing  Frozen
                  Fruits and Vegetables with capacity 15,000 MT per year
                  and admission aged for 8 years.
November 26, 1999 In the Director Meeting of the company No. 2/1999  had
                  resolved to cancel an investment in C.T.Laiyang Frozen
                  Foods Co.,Ltd.with operation ended by December 31,1999.
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