SET Announcements

Sansiri Public Company Limited announces the additional acquisition of ordinary shares in Sansiri Venture Co., Ltd. (a subsidiary) The Board of Directors Meeting of Sansiri Public Company Limited ("SIRI") # 2/2008 held on 27 February 2008 passed the resolution approving SIRI to acquire the additional 120,000 ordinary shares or equivalent to 40 percent of paid-up capital of Sansiri Venture Co., Ltd. ("SV") [its subsidiary], from Space Development Co., Ltd ("Space"). The transaction is categorized as Class 3 (the value of transaction is less than 15 percent) pursuant to the Notification of the Board of Governors of the Stock Exchange of Thailand regarding Disclosure of Information and Other Acts of Listed Companies Concerning the Acquisition and Disposition of Assets, 2004, the details of which are as follow: 1. The date on which the transaction will occur The transaction will be made into 2 installments: The 1st installment : SIRI will buy the 30,000 ordinary shares or equivalent to 10 percent of paid-up capital of SV within March 2008 The 2nd installment : SIRI will buy the 90,000 ordinary shares or equivalent to 30 percent of paid-up capital of SV within September 2008 2. The parties involved Buyer : Sansiri Public Company Limited or SIRI Seller : Space Development Co., Ltd. or Space Relationship with SIRI : Space holds shares in Plus Property Space Co., Ltd. (a company in which SIRI indirectly holds share) in the proportion of 49 percent. However, Space is not a connected person of SIRI. 3. The general characteristics of the transaction - Transaction class : The transaction is categorized as Class 3 (the value of transaction is less than 15 percent) pursuant to the Notification of the Board of Governors of the Stock Exchange of Thailand regarding Disclosure of Information and Other Acts of Listed Companies Concerning the Acquisition and Disposition of Assets, 2004. - The basis used to consider the volume : The basis of the value of consideration given - The volume of the transaction : Considered the volume of the transaction pursuant to the basis under the Notification of the SET, the maximum transaction size equivalent to 0.831 percent, the detail of such calculations are as follow: The calculation based on the value of consideration given criteria (Based on financial statements as at 31 December 2007 prepared by the management of SV and the Consolidated financial statements of SIRI as at 31 December 2007) (unit : thousand baht) Size of transaction = 0.831% The calculation details The value given x 100 = 175,030.00 X 100 Total assets of SIRI 21,068,384.50 The calculation based on the value of net asset criteria (Based on financial statements as at 31 December 2007 prepared by the management of SV and the Consolidated financial statements of SIRI as at 31 December 2007) (unit : thousand baht) Size of transaction = -0.376 % The calculation details 40% NTA of SV x 100 = -30,884.58 X 100 NTA of SIRI 8,220,423.89 The calculation based on the value of net profit criteria (Based on financial statements as at 31 December 2007 prepared by the management of SV and the Consolidated financial statements of SIRI as at 31 December 2007) (unit : thousand baht) Size of transaction = -4.646 % The calculation details 40% Net profit of SV x 100 = -32,890.72 X 100_ Net profit of SIRI 707,930.68 4. The details of the investment being acquired Securities - Type of securities : Ordinary shares - The company name : Sansiri Venture Co., Ltd. - The nature of its business : Real Estate Development - Registered capital : 3 million baht - Paid-up capital : 3 million baht - Number of shares disposed of : 120,000 shares - The 1st installment : 30,000 shares - The 2nd installment : 90,000 shares - Proportion of shareholding by SIRI before acquisition : 60 percent - Proportion of shareholding by SIRI after acquisition : - after acquisition in the 1st installment, Proportion of shares held by SIRI will be 70 percent - after acquisition in the 2nd installment, Proportion of shares held by SIRI will be 100 percent 5. The total value of consideration and the type of payment - The total value of consideration (share price) : 175,030,000 baht - method of payment : The 1st installment : Paid by cash in the amount of 43,760,000 Baht within March 2008 (for the acquisition of 30,000 ordinary shares or equivalent to 10 percent of paid-up capital of SV) The 2nd installment : Paid by cash in the amount of 131,270,000 Baht within September 2008 (for the acquisition of 90,000 ordinary shares or equivalent to 30 percent of paid-up capital of SV) 6. Basis used to determine the Consideration Value : The consideration value paid by SIRI to the Seller are the agreed price based on the value of the company which was calculated by using the Discounted Cash Flow (DCF) Approach 7. The reason for the disposal Of the assets : For investment in the dividend yield and for the flexibility in administration 8. The source of funds : Working capital of SIRI 9. The return on investment : Dividend 10. Other : The entry into the transaction by SIRI and the transaction size does not fall within any jurisdiction of the Notification of the Board of Governors of the Stock Exchange of Thailand regarding Disclosure of Information and Other Acts of Listed Companies Concerning the Connected Transaction, 2003. Verification of Information Directors of Sansiri Public Company Limited hereto certified the accuracy of information disclosed herein. (Mr. Wanchak Buranasiri) Director