SET Announcements

(Translation) Ref. No. SS. / 0086 /2003 29 January 2003 Subject : Report on the utilization of the increased capital To : President The Stock Exchange of Thailand Pursuant to the resolution of the Annual General Meeting of Shareholders No. 4/1999 held on 9 April 1999 ("AGM"), the meeting approved Sansiri Public Company Limited to increase the registered capital of the Company by issuing 1,249,940,000 newly ordinary shares at the par value of 10 Baht each, totaling 12,499,400,000 Baht. As of 31 December 2002, the total number of shares subscribed and amount of money received from this increase capital were 216,122,297 shares and 1,290,581,950 Baht respectively, which can divided as follows: (a) 174,128,204 shares, issued and offered at 5 Baht per share, equivalent to 870,641,020 Baht. (b) 41,994,093 shares, issued and offered at 10 Baht per share, equivalent to 419,940,930 Baht. The Company would like to report on the utilization of the increased capital which issued and offered pursuant to the resolution of "AGM", ending 31 December 2002 to the SET as follows: 1. 289,251,950 Baht were utilized to decrease the existing project financing debt and other current liabilities of the Company and its subsidiaries. 2. 174,814,000 Baht were utilized as a working capital and to adjust the financial structure of the Company and its subsidiaries. 3. 826,516,000 Baht were utilized to invest in real estate business. Subsequently, the Extraordinary Meeting of Shareholders No. 1/2002 held on 7 August 2002 has approved the decrease of the registered capital of the Company by canceling the registered but un-issued shares which approved by the resolution of the AGM, and approved the increase of the registered capital of the Company by issuing 1,883,729,432 newly ordinary shares at the par value of 10 Baht, totaling 18,837,294,320 Baht. As of 31 December 2002, the total number of shares subscribed and amount of money received from this increase capital were 571,500,000 shares at the price of 4.41 Baht per share and 2,520,315,000 Baht respectively as detailed in the Company report being sent to the SET since 23 August 2003. The Company would like to report on the utilization of the increased capital which issued and offered pursuant to the resolution of the Extraordinary Meeting of Shareholders No. 1/2002 held on 7 August 2002, ending 31 December 2002 to the SET as follows: 1. 170,000,000 Baht were utilized to adjust the funding structure of the Company and its subsidiaries. 2. 230,315,000 Baht were utilized to finance the expansion of the existing business of the Company, which includes, housing project for sale, condominium for sale, apartment for rent and property management. 3. 2,120,000,000 Baht were utilized to expand the business into other area of real estate which relating to existing business of the Company, such as service apartment, hotel and other relating service businesses. Please be informed accordingly. Yours sincerely, (Mr. Srettha Thavisin President