Dispute on Dusit Resort Pattaya Building

March 30,2004 SUBJECT: Dispute on Dusit Resort Pattaya Building ATTN: Committee and Manager of SET Refer to: 1. The Civil Court of Southern Bangkok Lawsuit No. 12616/2544 between World Intertrade Corporation Co. Ltd. as the plaintiff and Dusit Thani Public Co. Ltd. as the accused. 2. The Civil Court of Southern Bangkok Lawsuit No. 12924/2544 between Dusit Thani Public Co. Ltd as the plaintiff and World Intertrade Corporation Co. Ltd. as the accused. As referred to in 1. World Intertrade Corporation Co. Ltd. has accused Dusit Thani Public Co. Ltd. in a lawsuit for the return of their property, and demand for the violation, to receive compensation with the asset in the case valued at 2,760,000,000 baht (two thousand seven hundred sixty million baht) and followed by the reference in 2. Dusit Thani Public Co. Ltd. has accused World Intertrade Corporation Co. Ltd. in the lawsuit to accept responsibility for and to request for full compensation in the case valued at 45,782,487.81 baht (forty five million seven hundred eighty two thousand four hundred eighty seven baht and eighty one satang). The Court has decided to combine both cases between World Intertrade Corporation Co. Ltd as plaintiff and Dusit Thani Public Co. Ltd. as the accused. With reference to the above-mentioned case, the Company has consistently informed the SET regularly about the latest developments. Currently, the Civil Court of Southern Bangkok has handed down its decision on the above lawsuit on March 26, 2004, as follows: - The first lawsuit No. 12616/2544 the Court has declared the case filed by the plaintiff (World Intertrade Corporation Co. Ltd.) has been dismissed with the verdict that the accused (Dusit Thani Public Co. Ltd.) is the owner of the property Dusit Resort Pattaya Hotel Building, according to the law found in the Civil and Commercial Court Code Chapter 1382 and 1385 without doubt, and therefore the plaintiff is not the legal owner of the said property and has no right to sue to accused. The plaintiff is requested to pay the lawyers' fees incurred by the accused amounting to 500,000 baht and the court cost. - As for the second lawsuit No. 12924/2544, the Court has given the verdict that the plaintiff (who is the accused, World Intertrade Corporation Co. Ltd. in the second case) must pay compensation amounting to 45,782,487.81 baht plus interest of 7.5% per year of the total amount 44,246,000 baht starting from December 20, 2001 (the day after the lawsuit was filed until the entire amount has been paid fully to the accused (the plaintiff (Dusit Thani Public Co. Ltd.) in the second case) and request the plaintiff to pay the lawyers' fees of the accused in the amount of 50,000 baht and the court cost. Thank you for your kind attention on this matter. With best regards, Mr. Chanin Donavanik Committee Member