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He rose to fame in Lester James Peries's film Desa Nisa in 1972, and was a popular actor during the 1970s and 1980s; He won the Sarasaviya Best Actor Award in 1984 (Dadayama), 1985 (Maya), 1989 (Sandakada Pahana), and 1990 (Sri Medura).
Ramanayake has occasionally branched out into more serious roles such as in Lester James Peries' Awaragira but continues to be known for his commercial roles.
Sriyani has appeared in several Lester James Peries' movies including Golu Hadawatha, Desa Nisa and Ahasin Polawata.
He composed the beloved soundtracks to Lester James Peries' Rekava and Sandesaya in 1956 and 1960.