SET Announcements

Ref. SS/ 0114 /2000 February 29, 2000 Re : The Explanation for the cause of the change on the Companys' performance with respect of financial statement of the Company for the year ended December 31, 1999 Attn : Director and Manager The Stock Exchange of Thailand As Sansiri Public Company Limited has reported its performance in accordance with the financial statement for the year ended December 31, 1999 which shown the more than 20% drop in company's performance, compare to the same period of the previous year. With regard to the said drop in performance, the Company would like to explain that it was caused by the operation of the Company as property developer, which has been affected by the economic condition in Thailand and Asia Pacific Region in general, has directly resulted in the drop of the total income of the Company. Besides, from the same impacts, there are also the restrictions of new accounting standard-asset impairment, 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. Srettha Thavisin) President