Negotiation progress for the acquisition of shares of PA

Translation August 29, 2006 Subject: Progress regarding negotiations for the acquisition of shares of Pacific Assets Plc. To: The President of the Stock Exchange of Thailand Referring to two reports to the Stock Exchange of Thailand submitted by Dusit Thani Public Company Limited (the Company) dated July 24 and July 26, 2006, in which the Company stated it is in the process of negotiating to acquire shares of Pacific Asset Plc. from a major shareholder and conducting a due diligence in this regard. We would like to inform you that the due diligence has been completed. However, the management of the Company and a major shareholder of Pacific Asset Plc. were unable to conclude the negotiations on certain details such as potential related tax issues etc. As a result, the Company is no longer pursuing the deal. This is for your information. Sincerely yours, Mr. Chanin Donavanik Director