INVESTMENT IN DIRECT COMMERCE TECHNOLOGY CO.,LTD.

September 29th, 1999 Subject Dusit Thani Public Company Limited voted to invest in Direct Commerce Technology Co., Ltd. (DCT) To: Directors and Managers of Stock Exchange of Thailand (SET) The Board of Directors of Dusit Thani Public Company Limited held an ordinary board meeting on September 29th, 1999, reference number 6/25/42, voted unanimously to jointly invest in Direct Commerce Technology Co., Ltd., hereinafter refered to as DCT, a hospitality & travelling services technology company. The capital investment is ten (10) Millions Baht, consisting of 1 Millions common shares with a par value of ten (10) Baht per share. DCT has the following shareholder structure: 1) Dusit Thani Public Company Limited 49% 2) Sirichai Chanchaikulvet 28% 3) Supakorn Rungchaitanes 16% 4) Lt. Chawalit Techapaibul 7% Sirichai Chanchaikulvet is presently the Chief Technology Officer and Supakorn is the System Software IT Manager, both of the Dusit Thani Public Company Limited. The amount of investment is less than fifteen (15%) percent of Dusit Thani Public Company Limited's net asset. DCT offers Web-based Internet, Intranet, and Extranet hotel reservation system under a World-Wide-Web (WWW) Web site named http://www.makebooking.com. The potential customers of DCT are hereby delineated: - Hotels, Resorts, and destinations - Travel Agents and Tour Operators - Regional Sales Office - Organizations and Associations - Corporate hotel guests - Individual hotel guests - Vendors and Suppliers of hotel equipments and appliances - The general public Internet clients This advanced reservation system allows bookings to be made by any Internet users around the world. DCT Web-based reservation system is a hotel Personal Distribution System (PDS), because each Member Hotel will be creating, managing, and maintaining its own rates, availabilities, hotel information, and announcements regarding the hotels for their customers and representatives world-wide. Additionally, its a hotel central database containing all marketing data that will benefit the Member Hotels, Travel Agents, and their customers. Information such as guest history, revenue and yield management will be readily available on the system. DCT's major revenue sources are derived from: 1) Membership Fee 2) Bookings Delivery Fee 3) Advertising and Sponsorship 4) E-Commerce 5) Development and Consultation Fees Major benefits for the Member Hotels consisting of: 1) Additional revenue generated from the increased in occupancy, because the system provides international distribution access 2) The system is more cost effective than conventional systems 3) Marketing and Sales staff will become more efficient, mainly from the information within the database which is readily accessible and easy to monitor. Staff performance measurement will make management more effective 4) It is an added channel for hotel guests to make direct confirmed bookings globally on a 24 Hours basis Cordially Submitted, Khunying Chanut Piyaoui Chairperson and Managing Director