SET Announcements

Ref. SS/0048/2000 25 January 2000 Subject : Sansiri Public Company Limited plans aggressive growth strategy for 2000 To : Director and Manager of The Stock Exchange of Thailand Today, Sansiri Public Company Limited will announce its business strategy and direction for the year 2000 at Sukhumvit Room, Cheraton Hotel during 10.00 11.30 hours the summary of which are as follows: The company's carefully-planned strategy will see Sansiri expand its focus from its traditional condominiums into complementary market sectors including single detached houses, residential rental apartments, and property management & services. Sansiri's strategic growth plan is based upon the company's improved financial position and premiere position in property development, which serve as a basis for Sansiri to address opportunities in other sectors of the real estate market. Sansiri's research and other economic indicators show good potential in the residential market which includes single detached houses, rental apartments and condominiums, where demand remains high due to a significant drop in interest rates, a government economic stimulation program, regulatory changes for the property sector and an adjustment to more realistic land prices. Sansiri is selectively considering projects in these three areas because of their potential for high returns. In 2000, Sansiri plans to formally market two billion baht new projects including two apartment projects on Wireless road and Sukhumvit road worth 500 million baht, one single detached housing project in Ram-Indra-Watcharaphol worth 1,000 million baht, and one condominium project worth 500 million baht. Asoke Place condominium project is located in a prime area with convenient access to major business centers, hotels, shopping and entertainment centers. The project will be marketed towards upscale consumers, as it will be one of Sansiri's finest projects. -2- Kananivej is a single detached housing project, located on Ram-Indra-Watcharapol, with a total area of 40 rai. Sansiri's first single housing project targets middle to upper income customers. It was developed and designed as exclusive residential housing with fully equipped facilities for comfortable and balanced living. In the residential rental apartment sector, where the company sees high potential, Sansiri will launch two rental apartments: Wireless Court on Wireless road and Terrace Court on Sukhumvit road which are pilot programs for Sansiri in this market. The properties will target expatriates including American, European and Japanese. Property management and services will be another focus of Sansiri in 2000. Sansiri Property Plus Ltd., (SPPL), its wholly owned subsidiary, is a major player in this market with one million square meters from 20 buildings under its management, including the Rangsit campus of Thammasat University, Baan Suan-Sukhothai, Baan Navarang, Hinsuay Namsai condominium and the Japanese-Thai Cultural Center. In the future, the company will expand its operations to include housing projects. In 1999, this business generated 30 million baht worth of income to Sansiri and is expected to grow more than 20% in this year. In addition the company, in co-operation with its strategic partner, Starwood Capital, is exploring new opportunities in high-yield businesses related to Starwood's extensive experience in solving non-performing loans. Please be informed accordingly. Yours sincerely, .. (Mr. Wanchak Buranasiri) Director