EXPLANATION THE NEWS IN PRACHACHART THURAKIJ MAR 15-18,2001

Translation March 19,2001 Subject : Explanation the news in Prachachart Thurakij To : Directors and Managers of Stock Exchange of Thailand Refer to the news in Prachachart Thurakij reported that the Revenue Department prepare to foreclose Dusit Resort Pattaya Hotel Building. Because the Revenue Department understand that this Bldg. is owned by World Intertrade Corporation Co.,Ltd. which is the debtor by judgement of the Bankruptcy Court. Dusit Thani PCL. would like to explain that Dusit Thani PCL. is the owner and passesor of Dusit Resort Pattaya Hotel Bldg. including component parts and equipments. The hotel bldg. is constructed on the land located title deed No. 4339 Tumpol Naklau Amphur Banglamung Chonburi which the land is owned by Siripattaya Co.,Ltd. The lease agreement had been registered and has extra reciprocal. The World Intertrade Corporation Co.,Ltd., the lessee, has to transfer the ownership in the property of hotel Bldg. to Siripattaya Co.,Ltd. when the agreement is expired (in 2005). Therefore, World Intertrade Corporation Co.,Ltd. terminated and transferred the possession of the Bldg. and leasehold to Landmark Hotel Co.,Ltd., subsidiary company of Dusit Thani PCL. the said agreement intend to let Landmark Hotel co.,Ltd. to has the possession right and make benefit on hotel business with remuneration. Then Landmark Hotel Co.,Ltd. transferred the right to Dusit Thani Public PCL. by having remuneration and directly registered the lease agreement with Siripattaya Co.,Ltd. and this agreement will be expired on 2017. Dusit Thani PCL. had issued the letter to explain the fact to the Revenue Department concerning the ownership of the hotel building. At this moment, Dusit Thani PCL. is waiting for their consideration and would be pleased to provide any documents to proof the legal right. Sincerely yours (Mr.Chanin Donavanik) Director