FINANCIAL STATEMENT QUARTER ENDED SEPTEMBER 30, 2000

FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, "UNAUDITED" Baht :'000 CONSOLIDATED THE COMPANY ONLY 2000 1999 2000 1999 CASH FLOWS FROM OPERATING ACTIVITIES Income before extraordinary item 246,191 134,111 253,917 134,111 Adjustments to reconcile income before extraordinary item to net cash provided by (used in) operating activities: Bad debts and doubtful accounts (reversed) (3,294) 1,306 595 91 Depreciation and amortization 171,766 313,633 87,667 122,309 Gain on sale of property, premises and equipment (1,130) - (779) - Loss on fixed assets written off 4,651 - 3,994 - Unrealized loss on foreign exchange 3,474 7,110 - 13,048 Loss on impairment of assets 10,931 - - - Loss on diminution in value of securities 3,286 6,500 - 4,000 Loss on the liquidation of subsidiary - 903 - 903 Gain on sale of investment in associated company - (30) (21) (15) Minority interest in net income (loss) of subsidiaries 1,994 (14,971) - - Equity in undistributed net (income) loss of subsidiary and associated companies - - (96,097) 52,396 (Increase) Decrease in operating assets Short term investments with maturity of more than 3 months 88,800 (173,200) 100,500 (172,000) Trade accounts and notes receivable 27,894 47,049 29,795 50,065 Inventories 27,348 10,534 8,194 3,963 Other receivables 7,678 15,291 24,844 6,845 Other current assets (1,224) 7,886 3,392 12,524 Other assets (2,415) (9,002) - - Increase (Decrease) in operating liabilities Trade accounts and notes payable (30,399) (34,115) (20,355) (12,361) Accrued expenses 18,966 40,899 (57,468) (20,014) Accounts payable-construction 8,790 38 13,035 - Other current liabilities (28,536) (22,062) (25,835) (40,644) Net cash provided by operating activities 554,771 331,880 325,378 155,221 DUSIT THANI PUBLIC COMPANY LIMITED AND SUBSIDIARIES STATEMENTS OF CASH FLOWS (CONTINUED) FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, "UNAUDITED" Baht :'000 CONSOLIDATED THE COMPANY ONLY 2000 1999 2000 1999 CASH FLOWS FROM INVESTING ACTIVITIES Payment for investments in debt securities-held to maturity (453,900) - (410,000) - Proceeds from sales of investments in other companies 1,225 30 1,246 15 Proceeds from the liquidation of subsidiary - 203 - 203 Proceeds from sales of property, premises and equipment 4,275 - 588 - Proceeds from sale of assets relating to the hotel management service business - - 2,189 - Cash received from subsidiary and associated companies for repayment of loan - - - 10,143 Purchase of shares in subsidiary, associated and other companies (10,410) (50,142) (2,411) (11,917) Cash payment for loan to subsidiary - - - (10,143) Purchase of property, premises and equipment (81,144) - (60,043) - Net increase in property, premises and equipment - (69,056) - (51,863) Net cash used in investing activities (539,954) (118,965) (468,431) (63,562) CASH FLOWS FROM FINANCING ACTIVITIES Increase (decrease) bank overdrafts and loans from financial institutions (2,199) (14,824) (473) 801 Increase in long-term loans 2,958 - - - Payments of long-term loans (345,544) (547,215) - (322,259) Proceeds of loans from financial institutions 170,148 - - - Proceeds of loans from subsidiaries - - - 5,623 Net cash used in financing activities (174,637) (562,039) (473) (315,835) Effect of exchange rate changes on cash (2,305) 20,017 - - Net decrease in cash and cash equivalents (162,125) (329,107) (143,526) (224,176) Cash and cash equivalents as at January 1, 372,928 730,994 245,586 440,760 Cash and cash equivalents as at September 30, 210,803 401,887 102,060 216,584 See notes to the interim financial statements