Notice the net profit for the first quarter ended.

May 18, 1998 Subject : Notice that the difference between the net profit for the quarter ended March 31, 1998 and the same period last year exceeds 20%. To : Directors and Manager of the Stock Exchange of Thailand The consolidated and equity method financial statements for the first quarter ended March 31, 1998, show that Dusit Thani Public Co., Ltd. generated Baht 472.62 million and Baht 490.17 million respectively in net profit, compared with Baht 6.01 million for the quarter ended March 31,1997. The details are as follows : 1. The Dusit Thani, Bangkok and Outside Restaurants The Dusit Thani Hotel increased its net profit by Baht 11 millions due to the Baht 5.5 million increase in total revenues from sales and services, as well as decrease in cost of sales and services. 2. Dusit Resort, Pattaya The increase of total revenues from sales and services by Baht 18.5 together with a slight decrease of cost of sales and services increased the net profit by Baht 20 million. 3. Hotel Management The net profit from the hotel management business increased by Baht 8 million due to the increase by Baht 18.4 million in the hotel management revenues, which is resulted from the increasing of the number of hotels under management as well as strong performance by existing properties. 4. The interest expenses decreased by Baht 3.06 million. 5. The profit from foreign exchange gain. The Thai Baht/US dollar exchange rate at March 31, 1998 was lower than at December 31, 1997, causing the Company to post a Baht 74.1 million foreign exchange gain relating to US$ 8.6 million in unhedged laon principal. 6. The profit from disposal of shares in Dusit Sindhorn Co., Ltd. Since the recognition of net losses by Dusit Sindhorn Co., Ltd. in the consolidated and equity method financial statement had decreased the Company's investment value,the Company recorded a gain on disposal of shares in the amount of Baht 375.8 million. 7. Net profit from commercial buildings decreased Baht 2.8 million. 8. Philippine Hoteliers, Inc. The increase in net profit by Baht 28.9 millions resulted from an increase in Philippine Hoteliers, Inc.'s total revenues from sales and services by Baht 112 million, and Baht 30 million in foreign exchange gain attributable to the Company, which owns a 85.76% stake in Philippine Hoteliers, Inc. 9. Dusit Sindhorn Co., Ltd. For the quartered ending March31, 1998, Dusit Sindhorn Co., Ltd. posted a net loss of Baht 155 million. Because the Company sold its stake in Dusit Sindhorn Co., Ltd. on March 31, 1998. Dusit Thani Public Co., Ltd. recorded a charge for the first quarter of Baht 82.4 million relating to this investment. 10. Royal Princess Public Co., Ltd. The total revenues from sales and services for the quarter ended March 31, 1998 was stable relative to the prior year. However total cost of sales and services significantly increased from the same period in 1997 due to Baht 13.2 million in higher interest expense. 11. Dusit Resort Cha-Am Co., Ltd. For the quarter ended March 31, 1998, Dusit Resort Cha-Am Co.,Ltd. generated higher net profit from sales and services by Baht 7.8 miilion due to Baht 11 million increase in total revenues from sales and service, and a decrease in interest expenses. Dusit Resort Cha-Am Co., Ltd. recorded a net loss of Baht 4 million, which compares to a net profit of Baht 1.5 million in the same period last year, due to the expenses associated with the forward contract on foreign loans. Khunying Chanut Piyaoui Chairperson and Executive Director