NOTICE THE NET PROFIT FOR THE QUARTER ENDED MARCH 31, 1999

May 17, 1999 Subject:Notice that the difference between the net profit for the quarter ended March 31, 1999 and the same period last year exceed 20% To: Directors and Managers of Stock Exchange of Thailand The consolidated financial statement for the quarter ended March 31, 1999 shows that Dusit Thani Public Co., Ltd. generated the net profit of Baht 116.15 million, compared with the net profit of Baht 475.18 million for the quarter ended March 31, 1998. The reasons are as follows: 1. The Company posted its income before equity in subsidiary and associated companies and minority interest of Baht 121.63 million in the consolidate financial statement for the quarter ended March 31, 1999, compared with Baht 576.76 million for the quarter ended March 31, 1998. The details are as follows: Extraordinary income - The net profit from disposal of shares in Dusit Sindhorn Co., Ltd.: In conformity with generally accepted accounting principles, the Company was required to record an extraordinary profit of Baht 375.77 million from the sale of its stake in Dusit Sindhorn Co., Ltd. From 1995, until March 31, 1998, Dusit Sindhorn Co., Ltd. has accumulated a retain deficit which was attributable to the Company following its investment ratio. Thus the Companys investment value in the consolidated financial statements decreased. The Companys actual gain on investment was only Baht 6.3 million. - Net foreign exchange gain of Baht 101.41 million: For the quarter ended March 31, 1999, the Company posted Baht 2.78 million of foreign exchange loss. For the quarter ended March 31, 1998, the Company posted Baht 104.49 million of foreign exchange gain. The Company was required to record this gain to conform with generally accepted accounting principles - Net interest expense of Baht 30.73 million: For the quarter ended March 31, 1999, the Company posted Baht 13.70 million in interest income, and Baht 35.09 million in interest expense. For the quarter ended March 31, 1998, the Company posted Baht 8.27 million of interest income, and Baht 60.41 million of interest expense Operation income The total revenue from operation increased by 8.68 million, because of the increase in total revenue from Dusit Resort Pattaya and Dusit Resort & Polo Club as well as the decrease in the selling and administrative expenses of Headquarter. However, the Dusit Thani Hotel decreased its total revenue, because of the MRTA project, and at the same time, the economic downturn in the Philippines has impacted the Dusit Nikko Manilas total revenue. 2. The net loss of subsidiary and associated companies decreased by Baht 87.05 million. Since the Company sold out some subsidiary and associated companies which have accumulated a retained deficit, and some subsidiary and associated companies have had its retained deficit excess its investment. Sincerely yours, Khunying Chanut Piyaoui Chairperson and Managing Director