Share Repurchase Disclosure Form In the case where repurchasing the company's own shares is for financial management purposes. (Under Section 66/1 (2) of the Public Company Limited Act) Dusit Thani Public Company Limited Date September 18,2003. We,Dusit Thani Public Company Limited, hereby notify the Stock Exchange of Thailand of the resolution of the board of directors, no. 6/2003, held on September 18,2003 regarding approval of a proposed share repurchase for financial management purposes, with the details as follows: 1. The share repurchase project 1.1 The maximum amount for the share repurchase is 193,500,000 baht. 1.2 Number of shares repurchased 4,500,000 shares (at par value 10.00 baht per share) or equal to 5.29 % of the total of paid-up capital. 1.3 Procedure used for the repurchasing of shares ...X... on the Stock Exchange of Thailand ....... offer to general shareholders at the price of........ baht per share ( the price being the same) The repurchase period will be started from October 1,2003 to December 30,2003. Remarks : The company has to disclose the proposed share repurchase not later than 14 days prior to the date on which the shares will be repurchased 1. When a share repurchase scheme is by way of purchasing from the SET, the implementation period shall not exceed 6 months. 2. In the case where the offering is from the general shareholders, the repurchase period shall not be less than 10 days and shall not exceed 20 days. 1.4 The principle used to determine the repurchase price has taking into account the average market price during the last 30 days prior to the date on which the company discloses the shares repurchase information. The average market price during July 28 to September 17,2003 is 43.27 baht per share. Therefore, the repurchase price is not exceed 43 baht per share. 2. The information of the company 2.1 The company's retained earning and excess liquidity is based on the Reviewed / Audited Financial Statement as of June 30,2003 - The company's retained earning are 362.5 million baht. - The company's debts, which shall become due within the 6 months following from the date on which the shares will be repurchased, is equal to 116.7 million baht. - Explain the basis for this ability to repay the abovementioned debts and specify the source of funds for the repayment The mentioned debt is current liability of Korat Thani Co.,Ltd, subsidiary company of Royal Princess Plc. and Dusit Thani Plc. held 60.53% indirectly. At this moment the such debt is proceeding in Court which expect that within the next 6 months this case will not be ended. 2.2 The number of minor shareholders (Free float) as in the share registration book finalized on September 12,2003 equal to 15,545,215 shares or 18.29% of the company's paid up capital. In addition, the company encloses the report of the company's share distribution herein. 3. Reasons for the proposed share repurchase The company has excess liquidity 4. Likely impacts after the share repurchase. 4.1 Impact on the shareholders - Return on equity and net profit per share increase. - Shareholders may receive higher dividend, as repurchased shares have no rights to get the dividend. - Enable the price to stabilize. 4.2 Impact on the company - Cash decrease. - Book Value increase. 5. The description of the resale of shares and of the shares written off. - Procedure for shares resold ..X....on the Stock Exchange of Thailand ..X....by Public Offering - Period for the resale of share is from July 1, 2004 to December 29,2006 (after 6 months from the completion date of share repurchase and not later than 3 years from this time) - Principle used to determine the resale price.The Company has a policy to follow the regulations as per the Ministerial Regulations Re : Rules and Procedures for Share Repurchase,Disposition of Repurchased Shares and Shares Written off in a Public Limeted Commpany B.E.2544,as follows : The Company will dispose all the repurchased shares under this scheme by offering them on the main board of Stock Exchange of Thailand or through general public offering under the applicable regulation. The disposal period may start 6 months after the completion date of the share repurchase scheme. The price for disposal of shares will be based on the return on investment and the need of cash for future investments. In the event, the company does not or is unable to dispose the repurchased shares within the specify date. The Company will reduce its capital by writing off of the remaining unsold repurchased shares. 6. Shares repurchased in the past The final date of the latest share repurchase project None (The new share repurchase project will be implemented after one year following the final date of the last share repurchase project) The company certifies that the information contained in this report and attached documents are true and complete in all respects. ................................................. ( Sinee Thienprasiddhi ) Director and Secreatry to the Board of Director Note : Listed companies must report any resolutions of the board of directors regarding proposed projects for share repurchase on the date of the abovementioned meeting or up until 9.00am on the following day of business via facsimile and the Exchange's ELCID.