SET Announcements

(Translation) Ref. SS./ 2371 / 2004 19 May 2004 Subject : Disposal of investment in an associated company of Sansiri Public Company Limited To : President The Stock Exchange of Thailand Sansiri Public Company Limited board of directors' meeting # 5/2004 held on 19 May 2004 passed the following resolutions concerning the disposal of investment in Cathay Asset Management Co., Ltd., an associated company of the Company: 1. Transaction Date : within June 2004 2. The parties involved Buyer : Mrs. Kesara Na Ranong Seller : Sansiri Public Company Limited Relationship with the Company : -none- 3. The details of securities disposed of - Type of securities : ordinary share - Name of Issuer : Cathay Asset Management Co., Ltd. - The nature of its business : Business consultancy - Number of shares to be disposed of : 500,000 shares at par value of 10 baht per share - Selling price per share : 26.59 baht - Proportion of shares holding before : 20% - Proportion of shares holding after : -0- 4. The total value of the transaction and the condition of payment : 13,295,000 baht and the payment of the selling would made on the transaction date 5. The basis used to determine the value of consideration : at book value according to the audited financial statement of Cathay Asset Management Co., Ltd. as of 31 December 2003 6. The reason for the disposal of the shares : Appropriate return from the disposition of the investment and to reduce the monitoring expenses since the company currently has no business operation. 7. The proposed utilization of the proceeds received : For working capital 8. The general characteristics of the transaction : The entry into the transaction by the Company and the transaction size are not fell within any jurisdiction of the notification of the SET Re: Rule, Procedures and Disclosure of Connected Transaction of Listed Companies and Re: Rule, Procedures and Disclosure of Information Concerning the Acquisition and Disposition of Asset of Listed Companies Please be informed accordingly. Yours sincerely, (Mr. Apichart Chutrakul) Chief Executive Officer