NOTIFICATION OF THE NET PROFIT FOR THE QUARTER 3,1999

November 15, 1999 Subject:Notification of the net profit for the quarter ended September 30, 1999, which is more than 20% below the net profit of the same period last year To: Directors and Manager of the Stock Exchange of Thailand The consolidated financial statement for the quarter ended September 30, 1999 shows that Dusit Thani Public Co., Ltd. generated the net profit of Baht 134.11 million, comparing to the net profit of Baht 495.68 million for the same period last year. The reasons are as follows: Extraordinary items 1. On March 31, 1998, the Company recorded the net profit of Baht 375.77 million from the disposal of its investment in Dusit Sindhorn Co., Ltd. The selling price was Baht 1,110 million where the book value was Baht 734.23 million. Dusit Sindhorn Co., Ltd. was one of the associated companies of Dusit Thani Public Co., Ltd. where it held 49.99 % stakes. Moreover, in May 1998, the Company also recorded the net profit of Baht 92.4 million from the disposal of its investment in Dusit Thani Delaware, the owner of The Melrose Hotel. 2. Net foreign exchange gain has decreased by Baht 57.14 million due to the lack of forward buying for some of the off shore loan. 3. The Company has entered into a forward buying contract with the bank to prevent its foreign exchange risk since late 1997 and in 1998 has repaid part of its loan. Furthermore, certain amount of its off shore loan has been converted into local currency which has resulted in a decrease in forward buying expense by Baht 86.66 million. 4. Net interest expense has decreased by Bath 23.96 million as a result of loan repayment and off shore loan conversion into local currency. 5. Equity in undistributed net loss of subsidiary and associated companies has decreased by Baht 90.88 million because of the disposal of its stakes in Dusit Sindhorn Co.,Ltd. since March 31, 1998. Therefore, in 1999, the Company will not have to record the loss into its consolidate financial statement. 6. Goodwill as a result of the acquisition of Dusit Resort Cha-am Co., Ltd.'s shares in the amount of Baht 17.8 million Operational items In general, the performance of the Company and its Subsidiaries has improved or is in line with last year except at two hotels where the results are worse. 1. The net profit of The Dusit Thani has decreased by Baht 16 million because of the MRTA project in front of the hotel, which causes heavy traffic and air pollution resulting in a drop in numbers of both local and foreign guests. 2. The net profit of Dusit Nikko Manila has decreased by Baht 28 million because of the fierce competition among the five stars hotels in the Philippines this year and the drop in room rate. Furthermore, room selling for local business has been changed from US currency to Philippines Peso, which has pushed up the occupancy rate while also decreasing the revenue. Sincerely yours. Khunying Chanut Piyaoui Chairperson and Managing Director