Y2K COMPLIANCE PROGRAM PROGRESS REPORT #4/1999

Y2K Compliance Program Progress Report to SET Dusit Thani Public Co., Ltd. operates the hotel business and has full hotel management contracts. The Head Office is located on 946 Rama IV Road, Silom, Bangrak, Bangkok, the telephone number is 636-3600, and the facsimile number is 636-3630. The Company's Y2K compliance program report #4/1999 as of November 16th, 1999 is as follows: - Introduction This document is a progress & status report of the Y2K Compliance Program and a follow-up on the reports submitted earlier to SET. It details the company's progress for resolving the Y2K computer problems. 1. Y2K Compliance Program Status 1.1 Inventory Assessment Inventory assessment for all properties have been completed according to the scheduled date of Sept. 30th, 1998. 1.2 Cost Assessment The overall cost assessments revealed the final cost to be less than 5% of the shareholder equity value. The final figure in Baht was assessed at 5,146,881 Baht; however, the company is confident that the actual cost will probably be lower than the budgeted cost assessment. The cost assessments were presented to the Y2K Management Committee and the company Board of Directors, which had accepted the proposed renovation plan. 1.3 Renovation/Replacement Renovation/Replacement plan has been completed and is now being implemented. As of the report date, renovation/replacement program for all computer systems and embedded systems are 100% complete. As of the report date, the company has spent 2,156,529 Baht on the renovation / replacement program. 1.3.1 ELCID Software Program Dusit Thani Public Company has installed ELCID Version 4.3 at the company Headquarters office and began forward electronic information to the SET via dial-up modem communication link. 1.4 Simulation and Test System Acceptance Tests on Year 2000 Triggered Dates have been performed on all hotels systems. Vendor compliance certificates have been received for all embedded systems and are being audited. 1.4.1 ELCID Software Trigger Date Simulation Test ELCID software LIVE test on selected Year 2000 Triggered Date was conducted successfully with SET on March 27th and May 22nd, 1999. ELCID software at ADC Office had been controlled on Oct. 2nd and 16th, 1999. 1.5 Emergency and Contingency Planning Emergency Plan has been established and Failure Recovery Procedures are being implemented. Emergency drills will be conducted starting the fourth quarter of 1999 and continue thereafter until the year 2001. 2. Business Continuity There has been no further evidences since the last report that business will be disrupted by Y2K related problems. 3. Company Executive Report Dusit Hotels & Resorts have successfully completed the Year 2000 System Acceptance Test (SAT) for all hotel computer systems. Year 2000 Compliance Certificates have been received from all hotel embedded systems. Currently the company is preparing emergency systems and procedures to ensure total Year 2000 Readiness.