DUSIT RESORT HOTEL, PATTAYA'S BUILDING DISPUTE

Dated 28 January 2002 Subject:Dusit Resort Hotel, Pattaya's Building Dispute To: Director and Manager of Stock Exchange of Thailand Reference: 1) Company's Letter dated 19 March 2001 2) Company's Letter dated 26 and 28 June 2001 3) Company's Letter dated 3 July 2001 Reference is made to the complaint of Mr. Tanes Telan to Southern Bangkok Civil Court, dated 25 August 1998 against Landmark Hotel Co., Ltd. (1st defendant), World Intertrade Corporation Co., Ltd. (2nd defendant), Dusit Thani Public Company Limited (3rd defendant) and Mr, Trithip Telan (4th defendant) asking the Court's order to Dusit Thani Public Company Limited to sell Dusit Resort Pattaya Building to Mr. Tanes Telan in the price of 154,000,000 Baht or pay 1,045,860,000 Baht for his damage. Without any examination to Dusit Thani Public Company Limited and Landmark Hotel Co., Ltd., the Court judged to dismiss of action that resulting Mr. Tanes then cannot claim for damage as the above amount. On 7 December 2001, World Intertrade Corporation Co., Ltd. Had filed the complaint to Southern Bangkok Civil Court against Dusit Thani Public Company Limited, as a black case no. 12616/2544 with respect to the building of Dusit Resort Hotel, Pattaya. The charge is concerning the claim for the return of property, tort and claim for damages. The amount claim is Baht 2,760,000,000 (Two Thousand Seven Hundred and Sixty Million Baht only). According to the complaint, it involves the ownership of the building of Dusit Resort Hotel, Pattaya, which the Company's has already informed the Stock Exchange of Thailand, details appeared in the referred document nos. 1), 2) and 3) accordingly. However, as the Company has been sued, the Company shall file an answer to the complaint and confirm the Company's ownership of the disputed hotel building under Section 1382 of the Civil and Commercial Code of Thailand. The Company has already filed an answer to the complaint on such issue to the Southern Bangkok Civil Court on 16 January 2002, and the first witness testimony shall be on 21 February 2002. Please be informed accordingly. Yours sincerely, ( Thanpuying Chanat Piyaoui ) President Director and Managing Director