THE EXTENSION OF LEASE AGREEMENT

TRANSLATION September 5, 2002 Subject : The extension of Lease Agreement. To : President The Stock Exchange of Thailand Refer to the land lease agreement of Dusit Thani Hotel and Dusit Thani Commercial Building between The Crown Property Bureau and the Company is scheduled to expire on March 31, 2003. But the Company has the right to extend the such agreement for another 2 times which is 15 years each. At this moment, the Company had already signed the first extension of land lease agreement which period cover April l, 2003 to March 31, 2018. The rental for a period of first 15 years is Baht 1,100 Million. The payment will be 3 installment as follows: The first payment amountBaht 360 Million within April 1, 2003. The second payment amount Baht 360 Million within April 1, 2004 The third payment amount Baht 380 Million within April 1, 2005 Yours faithfully, MRS. SINEE THIENPRASIDDHI Director and Secretary to The Board of Directors