SET Announcements

October 18,1999 Re: Report to the Exchange of the Conversion Right To: President The Stock Exchange of Thailand On October 5, 1999, Noble Development Public Company Limited ("The Company") issued and sold 275,000 units of the convertible debentures, the company would like to inform the SET for the result of exercise of the conversion right, details are as follows: Name and Address of No.of Convertible No.of Shares Issuance Convertible Debentures (Units) from Exercise of Debentureholders the Right(Shares) 1.Albouys Nominees 30,000 900,000 Limited Third Floor Austin Friars House 2-6 Austin Friars London EC2N 2LX England 2 JAIC-3(A) Investment 10,000 300,000 Fund 7th Floor Kojimachi Tsuruyahachiman Building,4,Kojimachi 2-Chome, Chiyodaku, Tokyo, Japan 102 3.JAIC-3(B) Investment 10,000 300,000 Fund 7th Floor Kojimachi Tsuruyahachiman Building, 4,Kojimachi 2-Chome, Chiyodaku, Tokyo, Japan 102 4.JAIC-3(C) Investment 10,000 300,000 Fund 7th Floor Kojimachi Tsuruyahachiman Building, 4,Kojimachi 2-Chome, Chiyodaku, Tokyo, Japan 102 5.Nithipat Progressive 2,400 72,000 Fund 999 Graysorn Place, 5th Floor, Ploenchit Road, Phatumwan,Bangkok 6.One Fast Prosperity 2,000 60,000 Fund 999 Graysorn Place, 5th Floor, Ploenchit Road, Phatumwan,Bangkok 7.Thana One Fund 3,900 117,000 999 Graysorn Place, 5th Floor, Ploenchit Road, Phatumwan,Bangkok 8.One Plus One Fund 4,200 126,000 999 Graysorn Place, 5th Floor, Ploenchit Road, Phatumwan,Bangkok 9.One UB Fund 1,400 42,000 999 Graysorn Place, 5th Floor, Ploenchit Road, Phatumwan,Bangkok 10.One UB2 Fund 1,400 42,000 999 Graysorn Place, 5th Floor, Ploenchit Road, Phatumwan,Bangkok 11.One UB3 Fund 2,000 60,000 999 Graysorn Place, 5th Floor, Ploenchit Road, Phatumwan,Bangkok 12.One UB4 Fund 2,400 72,000 999 Graysorn Place, 5th Floor, Ploenchit Road, Phatumwan,Bangkok 13.One Progressive Fund 2,300 69,000 999 Graysorn Place, 5th Floor, Ploenchit Road, Phatumwan,Bangkok 14.One Multiple Growth 1,700 51,000 Fund 999 Graysorn Place, 5th Floor, Ploenchit Road, Phatumwan, Bangkok 15.One High Yield Fund 1,900 57,000 999 Graysorn Place, 5th Floor, Ploenchit Road, Phatumwan,Bangkok 16.One Wealth Builder 2,400 72,000 Fund 999 Graysorn Place, 5th Floor, Ploenchit Road, Phatumwan,Bangkok 17.One Prime Fund 2,000 60,000 999 Graysorn Place, 5th Floor, Ploenchit Road, Phatumwan,Bangkok 18.Thai Strategic 15,000 450,000 Asset Fund 999 Graysorn Place, 5th Floor, Ploenchit Road, Phatumwan,Bangkok 19.Safety Insurance 30,000 900,000 Public Company Limited 26/5-6 Orakarn Building, Lumpini, Phatumwan, Bangkok 20.DBS Thai Danu 30,000 900,000 Bank Public Company Limited 393 Silom Road, Silom, Bangruk, Bangkok 21 INVESCO (B.V.I.) 30,000 900,000 Nominees Limited P.O. Box 71, Craigmuir Chambers, Road Town, Tortola, British Virgin Islands 22. Property 80,000 2,400,000 Innovation Company Limited 806/1-3 Soi Thonglor (Sukhumvit55), Sukhumvit Road, Klongton,Klongtoey, Bangkok According to resolution of the extraordinary general meeting of shareholders No. 1/1999 of the company, the convertible debentures will be issued not to exceed 550,000 units, the shares reserved for conversion will not be exceed 16,500,000 shares and the ratio at which shares is issued upon conversion will initially be 1 debenture to 30 shares. The maturity of this convertible debentures is not exceeded 1 month (one month) from the issuing date, termination date of Conversion Right is not more than 1 month (one month) from the date of issuance. The Company shall allot the convertible debentures within 3 month (three months) from the date of shareholders having a resolution. For this time the company issued and sold 275,000 units of the convertible debentures which all of conversion right was exercised. The Company has right to issue and offer to sell the remaining of convertible debentures 275,000 units and the remaining 8,250,000 shares. to reserved for conversion. Sincerely, Noble Development Public Company Limited (Kitti Thanakitaumnuay) (Sitti Leelakasamelerk)