SET Announcements

Ref. SS./ 0224 /2000 15 May 2000 Re : The Explanation for the cause of the change in the Company's performance with respect of the 1st quarter of 2000 financial statement of the Company ending 31 March 2000 Attn : Director and Manager of The Stock Exchange of Thailand According to Sansiri Public Company Limited's 1st quarter of 2000 financial statement ending 31 March 2000 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 1st quarter of 1999, the massive losses of the Company mainly came from debt to assets swap, selling expenses in order to accelerate project sales, and high interest expenses. However, for the same period of 2000, the Company has adversely gain on debt settlement and decreased interest expenses resulting from continuing debt restructuring. 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 A:\fn_Q1_43\20%Q100_E.doc