Setting up a new JV. company to manage hotels in India

Translation March 15, 2007 Attention: Managing Director The Stock Exchange of Thailand Subject: Setting up a new joint venture company to manage hotels in India Dusit Thani Public Company Limited announces that it has entered into a joint venture contract with Bird Hospitality Services Private Limited, one company in the tourism and technology business group in India, to set upa new joint venture company. This new company will register in India and its head offcie is located in New Delhi, India. Its objective is to manage hotels in India. The register capital of this new company will be 35,000,000 India Rupee or approximately Baht 31,500,000. Dusit Thani Public Company Limited and Bird Hospitality Services Private Limited will invest 50 percent each of said capital. As such, Dusit Thani Public Company Limited will invest approximately Baht 15,750,000 and will provide the information and knowledge of hotel management, and Bird Hospitality Services Private Limited will provide technology and tourism information. This new company will enter into 3 hotel management agreements within 2011 at Rishikesh, Delhi and Goa, and additional 3 hotel management agreements within 2013 at Amritsar, Pune and Jaipur. In addition, this new company will also have an opportunity to increase the number of hotels under its management hotels in India. The calculation volume of this acquisition and disposition asset transactions is 0.25 percent of total assets as of December 31, 2006. If calculated as to volume based on acquisition and disposition of assets for past 6 months period, the outcome id 12.18 percent of total assets as of December 31, 2006. Thank you for your kind attention.