Laguna Resorts & Hotels Plc.

Corporate Structure

LRH Investment Chart as at 31 December 2008

ABBREVIATIONS

AVCI	=	PT. AVC Indonesia
BGL	=	Bangtao Grande Limited
BI	=	Bibace Investments Ltd. (Formerly know as TRL Investments Ltd.
BT1	=	Bangtao (1) Limited
BT2	=	Bangtao (2) Limited
BT3	=	Bangtao (3) Limited
BT4	=	Bangtao (4) Limited
BTD	=	Bangtao Development Limited
BTG(S)	=	Banyan Tree Gallery (Singapore) Pte Ltd
BTG(T)	=	Banya Tree Gallery (Thailand) Limited
CGL	=	Cheer Golden Limited
HHBR	=	Hua Hin Beach Resort Company Limited
L1	=	Laguna (1) Limited
L2	=	Laguna (2) Limited
LBC	=	Laguna Beach Club Limited
LBTG	=	Lijiang Banyan Tree Gallery Trading Company Limited
LBTH	=	Lijiang Banyan Tree Hotel Co., Ltd.
LBTL	=	Laguna Banyan Tree Limited
LCL	=	Laguna Central Limited
LEL	=	Laguna Excursions Limited
LGL	=	Laguna Grande Limited
LHC	=	Laguna Holiday Club Limited
LLL	=	Laguna Lakes Limited
LRH	=	Laguna Resorts & Hotels Public Company Limited
LSC	=	Laguna Service Company Limited
MCP	=	Mae Chan Property Company Limited
OPS	=	Ownrep Project Services Pte Ltd
PKRD	=	Phuket Resort Development Limited
PSC	=	Pai Samart Development Company Limited
TLDC	=	Talang Development Company Limited
TRL	=	Tropical Resorts Limited
TWDC	=	Twin Waters Development Company Limited
TWPL	=	Thai Wah Plaza Limited
TWRH	=	TWR-Holdings Limited
TWT	=	Thai Wah Tower Company Limited
TWT2	=	Thai Wah Tower (2) Company Limted
USC	=	Universal Starch Public Company Limited