With regard to management power, the New Company may change the board of directors from the first board of directors which consists of 1 Thai national and 2 Lao nationals to be 3 Thai nationals or more appointed by CP Laos. Consequently, CP Laos will control the New Company t~rough the board of directors of the New Company, i.e. most transactions of the New Company must be approved by the board of directors and will bind the New Company when the authorized directors sign and affix the seal of the New Company. However, it is possible for the shareholders of the New Company to arrange a shareholders' meeting to resolve to withdraw the board of directors. This is a risk which should be taken into consideration.