CLARIFICATION ON NEWS OF SELLING DUSIT RESORT AND POLO CLUB

25 April 2003 Subject : Clarification on news published in Matichon, daily newspaper, dated Thursday 24 April 2003 To : Managing Director The Stock Exchange of Thailand Reference is made to the news published in Matichon, daily newspaper about our Company saying that "Dusit Resort and Polo Club is not in Dusit group any longer, as this, during economic turmoil, has changed hands from the former owner, Thanpuying Chanut Piyaoui to Khunying Potjaman Shinawatra, but with a request made by Thanpuying Chanut to maintain the original name of the hotel" Our company fears that such rumour may lead the investors and shareholders of the Hotel to misunderstanding of the facts, the company therefore would like to clarify that Dusit Resort and Polo Club (Cha-am) is still the property of our Company and it's subsidiaries; the company has not sold the said properties as mentioned in the news at all. Please be informed accordingly. Yours truly, -Signed- (Mrs. Sinee Thienprasiddhi) Director & Secretary to the Board of Directors