Information of the Acquisition of Dusit Thani Laguna Phuket

Translation August 10, 2010 Detail of the Assets Acquisition from Laguna Resorts and Hotels Public Company Limited The Board of Directors Meeting of Dusit Thani Public Company Limited ("the Company") No. 4/2010 held on August 5, 2010 has approved the purchase of Dusit Thani Laguna Resort Phuket from Laguna Resorts and Hotels Public Company Limited, Phuket Resort Development Co., Ltd. and Laguna Grand Co., Ltd. which consist of land area of 33 Rai, 2 Ngan and 83.2 Square Wah and 12 buildings. 1. Date of transactions: An agreement is to be signed on August 10, 2010. The expected date of transfer of ownership will be within November 2010 or no later than December 2010. 2. The Parties involved and relationships - Purchaser : Dusit Thani Public Company Limited - Seller : Laguna Resorts and Hotels Public Company Limited, Phuket Resort Development Co., Ltd. and Laguna Grand Co., Ltd. - Relationships with Listed Company: The Company is connected to Laguna Resorts and Hotels Public Company Limited as a shareholder with the shareholding ratio accounting for 0.75 per cent of the total shares according to the report of the Stock Exchange of Thailand dated May 10, 2010. The Company possesses no authorization to control and is merely to provide the hotel operation service which shall receive the management fee in return. 3. The general characteristics of the transactions - Transaction Category: Such asset acquisition transaction is concerned with the Acquisition and Disposition of Assets according to Notification of the Stock Exchange of Thailand, Disclosure of Information or Acts of Listed Companies. Calculation of assets size: the Company's total assets which, as of March 31, 2010, is Bt 5,491,177,000. Total value of acquired assets = 2,716,000,000 = 49.47% The Company's total assets 5,491,177,000 Therefore, the transaction equals to 49.47 per cent of the Company's total assets which is more than 15 per cent but less than 50 per cent of the Company's total assets and is consequently classified as item 2 according to Notification of the Stock Exchange of Thailand, Disclosure of Information or Acts of Listed Companies. - Transaction Characteristics: The Company has an intention to purchase the assets which consist of 12 buildings as prescribed in the section 4. 4. The details of acquisitioned assets: Land and buildings are located at Srisoontorn Road, Cherngtalay District, Amphur Talang, Phuket, which consist of the followings: 1. 6 parcels of land consist of land Title Deed no. 5917, 11956, 5971 in partial, 42109 and 2 parcels of land which will be partly derived from Title Deed no. 42110. The total land area is 33 Rai 2 Ngan and 83.2 Square Wah as indicated on the Title Deeds. However, the Company has to acknowledge that the actual areas may be less than the indicated area due to the beach erosion on part of the land Title Deed no. 5917 and 42109. Moreover, some parts of the land will be registered the servitude to Laguna Resorts and Hotels Public Company Limited and Phuket Resort Development Co., Ltd. The total area is 488.25 Square Wah, of which 99.75 Square Wah is a walk way, 67.50 Square Wah is vehicle road and 321 Square Wah is the underground infrastructure system respectively. 2. 12 Buildings include: - A 3-storey hotel building with 226 hotel rooms and 6 restaurants - 1 building of Italian restaurant - 2 buildings of meeting and function rooms - 1 building of Thai restaurant - 2 buildings of souvenirs shops - 3 recreational buildings and swimming pool - 2 buildings of spa and treatment rooms - Tennis courts 5. The total value of the acquired assets: The total value of the acquired assets is Bt 2,620,000,000. The payment scheme is as follows: - The first payment: 10 per cent of the total value or Bt 262,000,000 shall be made within 5 days as from the agreement signing date; - The second payment: 89 per cent of the total value or Bt 2,331,800,000 shall be made in September 30, 2010; - The last 1 per cent of the total value or Bt 26,200,000 payment shall be made on the transfer date or completion date which is expected to be within November 2010 or no later than December 2010. Moreover, the Company shall bear the burden of the expenses and tax incurred by the transfer of the ownership which is approximately Bt 96,000,000. 6. The basis used to determine the value of returns: The valuation is calculated based on the Discounted Cash Flow of the Assets which shall not exceed 10 per cent of the estimated values appraised by an independent appraiser, exclusive of the expenses and tax incurred by the transfer of the ownership. 7. The benefit expected to be received from the transactions: To maintain Dusit's hotel group position in Phuket, the province with a high potential for tourism industry as well as to expand the Company's business to ensure the better performance in the future. 8. The sources of funds and repayment: The Company has intention to inject such assets into its property fund. However, the deposit payment for the acquired assets will initially be from a short-term loan from bank during the property fund establishment period. In the event that the Company is unable to successfully set up the property fund, the Company shall consider borrowing a long-term loan from the bank and/or issuing debentures. 9. Conditions for entering into a transaction: As being classified item 2 in accordance with the Notification of the Stock Exchange of Thailand, Disclosure of Information or Acts of Listed Companies concerning the Acquisition and Disposition of Assets, such transaction shall be notified to the Stock Exchange of Thailand and its details shall be informed to the shareholders within 21 days as from the first date that the transaction is disclosed to the Stock Exchange of Thailand. 10. The opinion of the board of directors concerning a decision to enter into a transaction: The Company's board of directors has considered and agreed that the investment in such assets is worthwhile and will help the Company in expanding its business. Therefore, the Company's board of directors has unanimously approved the purchase of such assets in all respects. 11. The opinion of the audit committee and/or the board of directors disagreeing with the opinion stated in section 10: none