DISPOSAL OF THE ASSET BY SUBSIDIARY

May 19, 1999 Subject:Disposal Vacant Land To: Directors and Managers of Stock Exchange of Thailand Dusit Thani Public Company Limited would like to announce that a Board of Directors Meeting # 2/1999 of Dusit Resort Cha-am Co., Ltd. (a subsidiary in which the Company holds 97.07% of the shares) has adopted a resolution on Wednesday, May 19, 1999 to dispose the vacant land containing an aggregate area of 55 rai 2 ngan 87 sq.wah. at Nong Talay Sub-District, Muang District, Krabi Province in the price of Baht 20,291,200. Since after the Company reviewed the objectives and the details of the acquisition, the return of this acquisition is not satisfied the Companys needs. Further to the Companys letter dated March 18, 1999, the payment was completed on March 23, 1999, but the transfer of the ownership was not completed. Thus the Board of Directors considered to sell back this vacant land at the same price as the purchase price. Finally, the sell back payment will be completed within May 31, 1999 Sincerely yours, Khunying Chanut Piyaoui Chairperson and Managing Director