SET Announcements

(Translation) Ref. SS./ 0087 /2002 28 February 2002 Re : The Explanation for the cause of the change in the Company's performance with respect of year 2001 financial statement of the Company ending 31 December 2001. Attn : President The Stock Exchange of Thailand Referring to Sansiri Public Company Limited's year 2001 financial statement ending 31 December 2001, it has reported a profit which varied more than 20%, compared to the previous year. With this regard, the Company would like to explain that in year 2000, the Company's net profit mainly came from debt restructuring as well as the reversal of allowance for doubtful debts stemming from lending to group subsidiaries, while in 2001a group subsidiary exercised debt restructuring affecting to the losses. In addition, group of the Company could not record the payment for internet, telecommunication development and marketing related activities as prepaid expenses in order to amortize in proportion with the future income. These are the main reasons that have resulted in more than 20% variance of the profit of the Company and its subsidiaries when compared to the same period of the previous year. Therefore, we inform you respectfully. Yours sincerely, . (Mr. Apichart Chutrakul) Director . (Mr. Wanchak Buranasiri) Director C:\FS_year end 2001\20%Q401_E#1.doc