KING POWER INTERNATIONAL GROUP CO LTD
RESULT OF CONSIDERATION ON EXTENSION OF CONTRACT
<DOCUMENT>
<TYPE>EX-10.56
<SEQUENCE>18
<FILENAME>0018.txt
<DESCRIPTION>RESULT OF CONSIDERATION ON EXTENSION OF CONTRACT
<TEXT>


No.  Thor.Or.Thor. 3976/2543

                                                       14 July 2000


Subject       Results  of   Consideration  on  Extension  of  the  Contract  for
              Merchandise and Souvenirs Business Operation

To            Managing Director, King Power Tax Free Co., Ltd.

Reference     Letter  of King  Power  Tax Free Co.,  Ltd.,  No.  Khor.Phor.Thor.
              183/2542 dated 16 December 1999 &  Khor.Phor.Thor.  191/2542 dated
              21 December 1999

Enclosure     Chart Showing Business Premises for Merchandise and Souvenirs
              Business Operation

Pursuant to the referenced  letters,  in which King Power Tax Free Co., Ltd. has
requested  for an  extension  of the  Contract  for  Merchandise  and  Souvenirs
Business Operation at the Phuket Airport,

Airports  Authority of Thailand (AAT) has  considered the request,  and would be
pleased to extend the Contract for Merchandise and Souvenirs  Business Operation
for three locations : Departure Hall, Zone No. DH 215, 27 square metre; Domestic
Departure  Lounge,  Zone No.  DD 205,  16.30  square  metre;  and  International
Departure  Lounge,  Zone No. DI 209,  53.16 square metre,  for a period of three
years, from 1 February 2000 to 31 January 2003, under the following conditions.

1.     The  monthly  rents shall be Baht  450.00 per square  metre,  the fee for
       using services in the airport at 15% of the rents,  the building and land
       taxes  at  12.5%  of the  rents,  and  other  expenses  on the use of the
       airport, property, services and facilities as set forth by AAT.

2.     The  monthly  remuneration  shall  be Baht  6,747.00  per  square  metre,
       totalling Baht  650,815.62 (not including the value added tax), and to be
       increased by 10% per year.

3.     The Company shall pay the monthly  remuneration to AAT in advance, by the
       5th of every month.

4.     If the  Company  is in  default  of payment to AAT, a penalty at 1.5% per
       month of the  outstanding  amount  shall be charged.  A fraction of month
       shall be counted as one month.

<PAGE>

5.     The  Company  must  obtain  written  approval  from AAT for the plans and
       drawings, and construction shall be at the Company's own expense.

6.     AAT reserves the right to permit other business  operators to operate the
       same business.

7.     The Company's  merchandise  shall be at the same  standards and prices as
       that of the  leading  department  stores.  Price tags shall be  displayed
       clearly,  and in Baht  currency  only.  Any  change of price  requires  a
       written approval of AAT.

8.     The Company shall strictly  comply with the existing  conditions,  rules,
       regulations,  instructions  and directives of AAT, as well as those to be
       issued in the future.

Please be informed,  and kindly give your  confirmation  in writing to AAT by 21
July 2000.

                                  Yours truly,

                                   - signed -

                             (Mr. Bancha Pattanapon)
                            Deputy Managing Director,
                              for Managing Director

Finance Department
Tel.   535-1590
Fax    535-1855

</TEXT>
</DOCUMENT>
