SET Announcements

(Translation) Ref. SS. / 3166 / 2004 November 30, 2004 Subject Clarification of news regarding Sansiri rescheduled debt with AMC Attention President The Stock Exchange of Thailand As stated on Krungthep Turakit and Matichon newspapers dated November 30, 2004 that Sansiri plc. has rescheduled debt with Asset Management Corporation (AMC) regarding Sretthasiri Panya Ramindra project for one year. Sansiri Public Company Limited would like to clarify the issue to ensure correct understanding as the article on the newspaper may mislead the investors. Setthasiri Panya Ramindra is the housing project development under Consortium agreement to develop and sell AMC's assets as strategic parners, not debtor and creditor, and without any financial loans between Sansiri and AMC. According to the Consortium agreement, land cost and pre-specified benefits will be paid to AMC as houses are gradually transferred. To cope with the changing market environment, Sansiri and AMC have mutually agreed to extend the project development period for one year. In addition, Sansiri has agreed to acquire from AMC the land adjacent to the abovementioned plot and plans to develop into another housing project after the completion of Setthasiri Panya Ramindra. Therefore, Sansiri and AMC agreed to re- schedule the transfer of the land to be consistent with the revised development plan. Currently, the land has not been developed yet and is ready to be developed if the market condition improves. Please be informed accordingly. Yours truly, (Mr. Wanchak Buranasiri) Executive Vice President