REPORT  OF  THE  INDEPENDENT  CERTIFIED  PUBLIC  ACCOUNTANTS

TO  THE  SHAREHOLDERS  AND  BOARD  OF  DIRECTORS 
THE  SAMAGGI  INSURANCE  PUBLIC  COMPANY  LIMITED

We have audited the balance sheets of The Samaggi Insurance Public Company Limited as at December 31, 2005 and 2004, and the related statements of income, changes in shareholders equity, and cash flows for the years then ended.  These financial statements are the responsibility of the Companys management as to their correctness and completeness of the presentation. Our responsibility is to express an opinion on these financial statements based on our audits. 

We conducted our audits in accordance with generally accepted auditing standards.  Those standards require that we plan and perform the audit to obtain reasonable assurance as to whether the financial statements are free of material misstatement.  An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements.  An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.  We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the aforementioned financial statements present fairly, in all material respects, the financial position of The Samaggi Insurance Public Company Limited as at December 31, 2005 and 2004, and the results of its operations and its cash flows for the years then ended in conformity with generally accepted accounting principles.



	Niti  Jungnitnirundr
	Certified Public Accountant (Thailand)
BANGKOK	Registration No. 3809
January 25, 2006	DELOITTE  TOUCHE  TOHMATSU  JAIYOS 

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