SET Announcements

August 10, 1999 Re: Amendment to Report on the Board of Directors Meeting To: President The Stock Exchange of Thailand Reference is made to the report of the Board of Directors meeting No. 3/2542 of Noble Development Public Company Limited (the "Company") held on August 9, 1999, in which the Company has resolved in agenda 6 to allot its newly-issued shares as follows: Agenda 6. unanimously approved to allocate newly-issued 638,750,000 (Six Hundred Thirty Eight Million Seven Hundred Fifty Thousand) shares at a par value of Baht 10 (Baht Ten) each as follows: 1. 18,000,000 (Eighteen Million) newly-issued ordinary shares to by sold on a private placement basis to not exceeding 35 persons and/or 17 types of investors pursuant to the Notification of the Securities and Exchange Commission, Re: Rules, Conditions and Procedures Governing Request for and Approval of Offering of Newly Issued Shares dated May 18, 1992 at a price of Baht 6 (Baht Six) each; 2. 18,000,000 (Eighteen Million) newly-issued shares to support the exercise of option to purchase new ordinary shares granted to an investor in 1. above at a price of Baht 6 (Baht Six) each; 3. 16,500,000 (Sixteen Million Five Hundred Thousand) newly-issued ordinary shares to support the conversion of convertible debentures, the conversion price of which is at a ratio of Baht 1,000 (Baht One Thousand) of convertible debentures to 30 (Thirty) shares as approved by the meeting in agenda 4 above; 4. 2,750,000 (Two Million Seven Hundred Fifty Thousand) newly-issued ordinary shares to support the exercise of warrants under the issuance and offer of warrants to purchase new shares to the directors and employees of the Company and subsidiary(ies), the exercise price of which is Baht 6 (Baht Six), as approved by the meeting in agenda 5 above; 5. 583,500,000 (Five Hundred Eighty Three Million Five Hundred Thousand) newly-issued ordinary shares to be allocated as follows: 5.1 200,000,000 (Two Hundred Million) newly-issued ordinary shares to existing shareholders (right offering) at a price of not less than Baht 10 (Baht Ten) each; 5.2 200,000,000 (Two Hundred Million) newly-issued ordinary shares to the public (public offering) at a price of not less than Baht 10 (Baht Ten) each; 5.3 183,500,000 (One Hundred Eighty Three Million Five Hundred Thousand) newly-issued ordinary shares to be sold on a private placement basis to not exceeding 35 persons and/or 17 types of investors pursuant to the Notification of the Securities and Exchange Commission, Re: Rules, Conditions and Procedures Governing Request for and Approval of Offering of Newly Issued Shares dated May 18, 1992 at a price of not less than Baht 10 (Baht Ten) each. The shares to be sold under 5.1 above shall be completed within 22 days from the date of the shareholders meeting having passed a resolution to increase the capital at this time. In the case where the Company cannot issue new ordinary shares at a price of Baht 6 (Baht Six) each as mentioned in 1, 2 and 4 of this agenda due to any legal restrictions at the time of issue, the selling price will be Baht 10 (Baht Ten) each. The Board of Directors or any person(s) assigned by the Board shall be empowered to consider and prescribe other related terms and conditions such as the number of shares for each issuance, price, subscription period and payment for shares, ratio of existing shares to new shares (in case of right offering) etc., to negotiate, conclude and sign any related agreements or documents, including to perform any other acts necessary and relating to the newly-issued ordinary shares as well as listing newly-issued ordinary shares on the Stock Exchange of Thailand. There is a type in the second paragraph which is located below item 5.3 such that the shares required to be completely sold within 22 days from the date of the shareholders meeting having passed a resolution to increase the capital at this time must be the 18,000,000 (Eighteen Million) newly- issued ordinary shares as referred to in item 1, not item 5.1. Therefore, the Company would like to amend the contents of such paragraph to be as follows: ".... The shares to be sold under 1 above shall be completed within 22 days from the date of the shareholders meeting having passed a resolution to increase the capital at this time. In the case where the Company cannot issue new ordinary shares at a price of Baht 6 (Baht Six) each as mentioned in 1, 2 and 4 of this agenda due to any legal restrictions at the time of issue, the selling price will be Baht 10 (Baht Ten) each. ..." Please be informed accordingly. Sincerely, (Sitti Leelakasamelerk) Director