Report of performance for Quarter 2/2010

Translation August 16, 2010 Subject: Report of performance for the period ended June 30, 2010 compared with the period ended June 30, 2009 Attention: Managing Director The Stock Exchange of Thailand Dusit Thani Public Company Limited hereby reports the performance for the three-month and six-month periods ended June 30, 2010 compared with the three-month and six-month periods ended June 30, 2009 as follows: Operating results The Company's performance for the first quarter this year was better than last year by 7%, because the first 2 months of this year, the revenue increased by 13%. However, since March, the Company was impacted from the political situations within the country that directly affects to hotel business to be declined, especially at Royal Princess Larn Luang and Dusit Thani Hotel Bangkok which are closed to protestor rally. The advanced booking for accommodation and catering were cancelled. Therefore, the Company's performance started decreasing. Such demonstration had literally become aggressive and reached the crisis. On May 13, 2010, Dusit Thani Hotel Bangkok building, part of guest room and outer-rim of building including Dusit Thani Office Building were hit by gunfire. The hotel and office building had to be closed temporarily and lost revenues during such period approximately Baht 97 million. The assets damaged amounted approximately to Baht 19 million. However, the Company has been covered by business interruption insurance with the coverage worth Baht 1,400 million. The Company has informed such damage with insurance companies and has not yet received any responses from insurance companies for the claimable amount. The situation mentioned resulted to the Company's performance for the second quarter of this year decreased from last year. Total revenue amounted of Baht 580.47 million decreased from the same period of last year by 7% and has net loss of Baht 160.63 million, increased from the same period of last year by Baht 67.99 million, or 73%. After attributing net loss to minority interest of Baht 3.84 million; net loss to the equity holders of the parent was Baht 156.79 million, increased from the same period of last year by Baht 66.70 million, or 74%. The Company's performance for the six-month period ended June 30, 2010, total revenue amount of Baht 1,446.00 million, increased from the same period of last year by 0.77% and has net loss of Baht 78.75 million, increased from the same period of last year by Baht 11.56 million, or 17%. After attributing net loss to minority interest of Baht 1.86 million; net loss to the equity holders of the parent was Baht 76.89 million, increased from the same period of last year by Baht 9.92 million, or 15%. 1 The detail of the Company's performance consisted of the following: 1. Revenue from sales and services The Company had revenues from sales and services amounted to Baht 1,321.61 million, increased from the same period of last year by Baht 18.85 million, or 1%, comprised revenues from hotels under Dusit Thani Group increased by Baht 15.32 million, or 2%, the main decreased was from revenue of Dusit Thani Hotel Bangkok by Baht 54.85 million, or 17%, Dusit Princess Group decreased by Baht 4.04 million, or 2%, dusitD2 decreased by Baht 4.84 million, or 15%, Dusit Thani Manila increased by Baht 33.76 million, or 11%, and revenues from office building, spa, education, training and others increased by Baht 9.29 million, or 15%. 2. Cost of sales and services The Company had cost of sales and services amounted to Baht 1,013.43 million, or 77% of revenue from sales and services. The rational was increased when compared with the same period of last year which was Baht 982.87 million, or 75% of revenue from sales and services. After deducting cost of sales and services, the gross profit was Baht 308.18 million, or 23% of revenue from sales and services, decreased from the same period of last year which was Baht 319.89 million, or 25% of revenue from sales and services. 3. Other income The Company had other income amounted to Baht 124.39 million, decreased from the same period of last year by Baht 7.79 million, consisted of the following: - Management service income was Baht 39.77 million, decreased by Baht 9.73 million, or 20%. This decrease resulted from the effects financial crisis in United Arab Emirates which impacts to its hotel business and political situation in Thailand cause the managed hotels' revenues both in Thailand and overseas decreased, as such the management service income decreased. - Other incomes such as interest income, dividend and others amounted to Baht 84.62 million, increased from the same period of last year by Baht 1.94 million. 4. Selling expenses The Company had selling expenses, such as marketing, promotion and advertising expenses amounted to Baht 145.56 million, decreased from the same period of last year by Baht 8.67 million, or 6%. 2 5. Administrative expenses The Company had administrative expenses amounted to Baht 274.60 million, increased from the same period of last year by Baht 23.82 million, or 10%. Major increase resulted from lease expenses of land and building of hotels and trademark of a joint venture which calculated based on revenues and projects' consultants. However, the Company has policy to carefully manage such expenses, continually from last year. 6. Depreciation and amortization The Company had depreciation and amortization related to sales and administrative departments amounted to Baht 26.92 million, decreased from the same period of last year by Baht 1.71 million, or 6%, since some assets were fully depreciated but still in used. 7. Financial expenses The Company had financial expenses which were interest expenses amounted to Baht 19.15 million, decreased from the same period of last year by Baht 9.31 million, or 33%. Such interest was paid to financial institutions for borrowings by the Company and subsidiaries for their hotel renovation. During the period, the Company and subsidiaries repaid their loan principals on due date and prepaid partial loans before due date, as such, interest expenses was decreased. Financial position The consolidated balance sheet of the Company and subsidiaries as of June 30, 2010 presented total assets of Baht 5,249.18 million, decreased from the balance as of December 31, 2009 by Baht 357.87 million. The major decrement resulted from non-current assets; premises and equipment decreased because of depreciation, and prepaid rental of land and building exceeding one year-net decreased because of amortization according to the lease period. During the period, there were loan repayments, as such, total liabilities as of June 30, 2010 was Baht 1,320.31 million, decreased from balance as of December 31, 2009 by Baht 264.55 million. The debt to equity ratio as of June 30, 2010 was 0.36:1. In addition, the unappropriated retained earnings was Baht 1,083.14 million, and book value was Baht 43.98 per share. 3