OPERATING RESULTS

Translation The Consolidated Financial Statements of Dusit Thani Public Company Limited for the Quarter ended September 30, 2002 showed the net profit of Baht 80.1 Million which increased Baht 23.5 Million or 41.47% compared with the same period of year 2001. However, for the nine - month period ended September 30, 2002, the net profit was Baht 346.7 Million which increased Baht 15.2 Million or 4.59% compared with the same period of year 2001. In the third quarter of last year, the Company had expense which was not from direct operation. It was on July 3, 2001 the Company paid Baht 41.05 Million to the Official Receiver under section 230 of the Civil and Commercial Code of Thailand in case against Dusit Resort Pattaya's Building on behalf of World Intertrade Corporation Limited in order to protect the company's image and reputation of its hotel business. The Company recorded World Intertrade Corporation Limited as a debtor of the Company and recorded the allowance for doubtful account in the Balance Sheets. Also the Company recorded bad debt as selling and administrative expenses in the Statements of Income. This cause made the Company's Consolidated Financial Statements in the third quarter of last year change significantly.