Report of performance for quarter 2 year 2006 compared 2005

Translation August 11, 2006 Subject: Report of performance for the quarter and six-month period ended June 30, 2006 compared with June 30, 2005 Attention: Managing Director The Stock Exchange of Thailand Dusit Thani Public Company Limited hereby reports the performance according to the consolidated statements of income for the quarter and six-month period ended June 30, 2006 compared with the quarter and six-month period ended June 30, 2005 as follows: For the quarter ended June 30, 2006, the Company had income before interest and income tax amounted to Baht 11.6 million, increased from the same quarter of last year by Baht 7.4 million, or 175.4%. When interest expense and income tax of Baht 29.2 million had been deducted, the loss after income tax was Baht 17.6 million. Net loss after deducting minority interest of Baht 4.4 million was Baht 22.0 million. Net income decreased from the same quarter of last year by Baht 24.3 million. For the six-month period ended June 30, 2006, the Company had income before interest and income tax amounted to Baht 220.4 million, increased from the same period of last year by Baht 23.1 million, or 11.7%. When interest expense and income tax of Baht 97.1 million had been deducted, the income after income tax was Baht 123.3 million. Net income after deducting minority interest portion of Baht 12.9 million was Baht 110.4 million. Net income decreased from the same period of last year by Baht 23.3 million, or 17.4%, resulted from the following: 1. Revenue from sales and services The owned hotels under Dusit Group and Royal Princess Group had revenues from sales and services increased from the same quarter of last year by Baht 43.6 million, or 7.7% and increased from the same six-month period of year 2005 by Baht 161.3 million, or 12.7%. After renovation guest rooms, restaurants, function rooms, conference rooms, they were affected to the increase of revenues. In addition, D2hotel Chiang Mai, new trendy hotel of Dusit Thani under Dusit Hotels and Resorts Co., Ltd. had soft opening since November 2005 and its revenues for this quarter was Baht 11.4 million and for the six-month period was Baht 26.2 million. 2. Management service income The Company and subsidiaries had management service income increased from the same quarter of last year by Baht 9.6 million , or 45.5% and increase from the same six-month period of year 2005 by Baht 18.2 million , or 32.4% which were resulted from the better revenues of hotels under Dusit and Royal Princess Groups of the Company and subsidiaries. 3. Cost of sales and services For the quarter ended June 30, 2006, the Company and subsidiaries had cost of sales and services amounted to Baht 342.7 million, or 55.9% of revenue from sales and services, which its portion similar to the same period of year 2005, which had cost of sales and services amounted to Baht 315.6 million, or 55.4% of revenue from sales and services. For the six-month period ended June 30, 2006, the Company and subsidiaries had cost of sales and services amounted to Baht 713.4 million, or 49.9% of revenue from sales and services, which its portion similar to the same period of year 2005, which had cost of sales and services amounted to Baht 639.6 million, or 50.4% of revenue from sales and services. 4. Selling and administrative expenses For the quarter ended June 30, 2006, the Company and subsidiaries had selling and administrative expenses amounted to Baht 192.2 million, or 28.6% of total revenues, and for the same quarter of year 2005, selling and administrative expenses was Baht 201.3 million, or 32.9%. The decrease of selling and administrative expenses of Baht 9.1 million because in the same period of year 2005, the Company had income tax expense paid to Revenue Department for assessment for years 2000, 2001 and 2002 totalling Baht 25.9 million. For the six-month period ended June 30, 2006, the Company and subsidiaries had selling and administrative expenses amounted to Baht 382.0 million, or 24.5% of total revenues, and for the same period of year 2005, selling and administrative expenses was Baht 356.7 million, or 26.1% of total revenues. Therefore, selling and administrative expenses increased from the same period of year 2005 by Baht 25.3 million. The major increase resulted from the Dusit Resort Pattaya had renewed the land lease agreement in January 2006 which its new rental rate increased, so that its rental expense for the six-month period increased by Baht 8.4 million. Expenses of Dubai Office in United Arab Emirates for business expansion in that region were Baht 4.7 million. Promotion and marketing expenses in overseas and others to support the expansion of business of the Company and subsidiaries were increased by 31.1 million. In addition, selling and administrative expenses of D2hotel was Baht 14.5 million. 5. Depreciation and amortization expenses Early year 2006, most of renovation for hotels under Dusit Group were completed, for hotels under Royal Princess Group were partially completed, and for D2hotel had soft opening in late 2005, then started calculating depreciation.The Company and subsidiaries had depreciation for the six-month period ended June 2006 amounted to Baht 239.1 million, increased by Baht 71.4 million, or 42.6%. 6. Interest expenses For the six-month period ended June30, 2006, the Company and subsidiaries had interest expenses amounted to Baht 34.3 million, increased from the same period of last year by Baht 28.7 million. Such interest was paid to financial institutions for borrowing of the Company and subsidiaries for their hotel renovation. Balance Sheet Total assets of the Company and subsidiaries as of June 30, 2006 was Baht 5,917.5 million, increased from the balance as of December 31, 2005 by Baht 285.6 million, whereas for liabilities, there were additional of borrowing. Therefore, total liabilities increased by Baht 246.3 million. The calculation of debt to equity ratio was 0.56:1. In addition, the unappropriated retained earnings was Baht 757.7 million. After deducting treasury common share of Baht 131.6 million, the unappropriated retained earning was Baht 626.1 million and book value was Baht 44.37 per share.