SET Announcements

Ref. SS/0636/1999 16 August 1999 Re : The Explanation for the cause of the change in the Companys' performance with respect of the 2nd quarter of 1999 financial statement of the Company ending 30 June 1999. Attn : Director and Manager of The Stock Exchange of Thailand As Sansiri Public Company Limited has reported its performance in accordance with the 2nd quarter of 1999 financial statement ending 30 June 1999, of which shown the more than 20% drop in company's performance , compare to of the same period of the previous year. With regard to the said drop in performance, the Company would like to explain that it cause by the operation of the Company as property developer, which has been affected by the economic condition in Thailand and Asia Pacific Region ingeneral , has directly resulted in the drop of the total project sales of every project. Besides , from the same impacts , there are also the increase in the development cost as well as financial cost which cause the material drop in the performance of the Company and its subsidiaries compare to the previous year. Therefore , we inform you respectively. Yours sincerely, .......................... (Mr. Apichart Chutrakul) Chief Executive Officer