SET Announcements

Ref. SS/ 0868 /1999 15 November 1999 Re : The Explanation for the cause of the change in the Companys' performance with respect of the 3rd quarter of 1999 financial statement of the Company ending 30 September 1999. Attn : Director and Manager of The Stock Exchange of Thailand According to Sansiri Public Company Limited's 3rd quarter of 1999 financial statement ending 30 September 1999 has reported a profit which varied more than 20%, compared to of the same period of the previous year. With regard to the said profit, the Company would like to explain that in the 3rd quarter of 1998, the massive losses of the Company mainly came from huge reduction in sales price in order to accurate project loan repayment as well as debt to assets swap, the settlement value of which were under recorded value. However, for the same period of 1999, such transaction has incurred in small number and the Company has adversely gain on debt settlement with main contractors. These caused the profit in the performance of the Company and its subsidiaries compared to the previous year. Therefore , we inform you respectively. Yours sincerely, . (Mr. Srettha Thavisin) President