Y2K REPORT # 2

Y2K Compliance Program Progress Report to the SET Dusit Thani Public Co., Ltd. operates the hotel business and has full hotel management contracts. The Head Office is located on 946 Rama IV Road, Silom, Bangrak, Bangkok, the telephone number is 636-3600, and the facsimile number is 636-3630. The Company's Y2K compliance program report # 2/1998 as of November 15, 1998 is as follows: Introduction This document is a progress & status report of the Y2K Compliance Program and a follow-up on the report submitted earlier to the SET. It details the Company's progress for resolving the Y2K computer problem. 1. Y2K Compliance Program Status 1.1 Inventory Assessment Inventory assessment for all properties has been completed by the scheduled date of September 30, 1998. A few minor adjustments are still on going due to changes received from the vendor regarding cost proposal. 1.2 Cost Assessment The overall cost assessments revealed the final cost to be less than 5% of the shareholders' equity value. The final figure was assessed at Baht 5,146,881. The cost assessments were presented to the Y2K Management Committee and the Company's Board of Directors, which has accepted the proposed renovation plan. 1.3 Renovation/Replacement Renovation/Replacement plan has been completed and is now being implemented. As of the report date, renovation/replacement program is 35% complete and Baht 265,541 has been spent on the renovation/replacement program. It is estimated that all renovation/replacement will be completed by the first half of 1999. 1.4 Simulations and Testing Simulations and tests are being conducted on the component level. The overall system acceptance test will be performed once renovation/replacement is complete in early 1999. 1.5 Emergency and Contingency Planning Emergency Procedures are being developed and are due to be completed by the end of 1998. Emergency drills will be conducted starting in early of 1999. 2. Business Continuity There has been no further evidence since the last report that business will be materially disrupted by Y2K related problems. 3. Company Executive Report The current status of the Y2K compliance program is in the renovation/replacement phase. Correction action decisions have been taken by the high level executive management at the end of September 1998. Presently the company has spent Baht 265,541 from the budgeted Baht 5,146,881 for the Y2K compliance program. It is evident that shareholders' equity will not be affected by the Y2K problems. Furthermore, all system components will be Y2K readied according to the planned schedule with emergency plans intact.