Bangkok--Jan 13--SIRI Sansiri Public Company Limited (SIRI) today announced that affiliates of Starwood Capital Group, L.L.C., a U.S. based real estate investment firm, exercised rights it has to subscribe for 8 million newly issued shares of Sansiri, at a price of 40 million baht. The subscription was completed on 11 January 2000. Currently, Starwood Capital Group and its affiliates hold 18 million shares in Sansiri, including the newly subscribed shares. "The strong confidence shown by Starwood Capital Group in Sansiri has been consistently demonstrated through their investments in the company since the beginning of last year," said Mr. Srettha Thavisin, President of Sansiri PLC. "We look forward to Starwood's continued support in the company to reach our goal of financial stability in the long term." The transaction brings new funds to Sansiri and increases Sansiri's working capital. The company plans to expand its business aggressively this year, in addition to furthering its debt settlement program. "Starwood is committed long term to its investment in Sansiri. After working with the company since 1998, we have experienced first-hand, Sansiri's proven and professional operations, and are confident in Sansiri as a strategic partner. We are optimistic that Sansiri will continue to grow and gain valuable returns in the near future," stated Bradford Dockser, Asia Director of Starwood Capital Group and a Director of Sansiri PLC. Sansiri is recognized as the first Thai real estate firm that has succeeded in comprehensively restructuring its debt. It formed a strategic partnership with Starwood Capital Group in March 1999. For more information, Please contact: Waralee SomsakSansiri PLC. Tel: 201-3340 E-mail: [email protected] End.