EXPLANATION OF THE PROFIT AS OF MARCH 31,2002 COMPARED 2001

TRANSLATION May 15, 2002 Subject : Explanation of the performance as of March 31, 2002 compared with March 31, 2001. Attention : Directors and Managers of Stock Exchange of Thailand Reference to the Consolidated Financial Statements of Dusit Thani Public Company Limited as of March 31, 2002, the Company had net profit Baht 165.5 million while the same period of last year the net profit was Baht 173.9 million. Net profit decreased Baht 8.37 million because the performance of Dusit Hotel Nikko Manila Philippines was lower than last year due to the impact from economic and internal political. While the performance of the hotels in Dusit Group was close to last year but the performance from hotels in Royal Princess Group was better. Yours faithfully, Thanpuying Chanut Piyaoui Chairperson and Managing Director