BOARD OF DIRECTORS' RESOLUTIONS

TRANSLATION March 21, 2000 Subject:Board of Directors resolutions To: Directors and Manager of the Stock Exchange of Thailand The Board of Directors of Dusit Thani Public Company Limited held a meeting on March 21, 2000 # 2/2000, 1. voted unanimously for Dusit Hotels and Resorts Company Limited, a subsidiary company, to set up a branch office in Dubai, United Arab Emirates in order to expand the business in the Middle East; 2. voted unanimously to set up and hold 100% stakes in Devarana Spa Company Limited. The registered capital is eight (8) million Baht, consisting of 800,000 common shares with a par value of ten (10) Baht per share. This investment is less than fifteen (15) percent of Dusit Thani Public Company Limiteds net assets. A separate company Devarana Spa Company Limited is set up in order to have a very lean, flexible and efficient spa operations. The objective of Devarana is to become a spa management company by starting on Dusits owned properties. Once the reputation of Devarana has been established, the next step would be Dusits managed hotels or a stand-alone unit either locally or abroad.