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(F53-5) Form of Report to the Exchange of the Results of the Sale of Shares And Exercise of the Conversion Right of the Convertible Debentures. Noble Development Public Company Limited Date 19 October, 1999 1.Information relating to the shares offering and exercise of the conversion right of the convertible debentures. First Portion Shares Offering Category of shares Ordinary shares offered Number of shares offered 18,000,000 shares (Eighteen million shares) Offered to 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 and the name described as follows : 1) Thai Strategic Asset Fund 18,000,000 shares Price per share 6 Baht (Six Baht only) Subscription Date and October 5, 1999 Payment Date Second Portion Exercise of the conversion right of the convertible debentures Category of shares Ordinary shares offered Number of shares 8,250,000 shares (Eight million and twenty issuance from exercise five hundred thousand shares) of the right Offered to 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 for Applying for Permission to Offer Newly Issued Convertible Debentures and New Shares in Supporting to Accommodate Convertible Debentures and Permission dated October 30, 1992 and the name described as follows : 1) Albouys Nominees Limited 900,000 shares 2) JAIC-3(A) Investment Fund 300,000 shares 3) JAIC-3(B) Investment Fund 300,000 shares 4) JAIC-3(C) Investment Fund 300,000 shares 5) Nithipat Progressive Fund 72,000 shares 6) One Fast Prosperity Fund 60,000 shares 7) Thana One Fund 117,000 shares 8) One Plus One Fund 126,000 shares 9) One UB Fund 42,000 shares 10) One UB2 Fund 42,000 shares 11) One UB3 Fund 60,000 shares 12) One UB4 Fund 72,000 shares 13) One Progressive Fund 69,000 shares 14) One Multiple Growth Fund 51,000 shares 15) One High Yield Fund 57,000 shares 16) One Wealth Builder Fund 72,000 shares 17) One Prime Fund 60,000 shares 18) Thai Strategic Asset Fund 450,000 shares 19) Safety Insurance Public 900,000 shares Company Limited 20) DBS Thai Danu Bank 900,000 shares Public Company Limited 21) INVESCO (B.V.I.) 900,000 shares Nominees Limited 22) Property Innovation 2,400,000 shares Company Limited Total 8,250,000 shares Conversion Ratio 1 Convertible Debenture to 30 Shares. Exercise Price -None- Conversion Date October 5, 1999 2. Results of the sale of shares : First Portion Shares offering [ / ] totally sold out [ ] partly sold out, with........- N/A -....... .. Shares remaining. The company will deal with the remaining shares as follows : ..................- N/A - ......................................... Second Portion Exercise of the conversion right of the convertible debentures [ / ] totally exercise [ ] partly exercise , with............- N/A - .. Shares remaining. The company will deal with the remaining shares as follows - N/A - . 3. Details of the sale and exercise of the conversion right of the convertible debentures First Portion Shares offering Thai Investors Foreign Investors Total Juristic Natural Juristic Natural Persons Persons Persons Persons Number of persons 1 - - - 1 Number of shares 18,000,000 - - - 18,00,000 subscribed Percentage of 100.00 - - - 100.00 total shares offered for sale (at this time) Second Portion Exercise of the conversion right of the convertible debentures Thai Investors Foreign Investors Total Juristic Natural Juristic Natural Persons Persons Persons Persons Numberof persons 17 - 5 - 22 Number of shares 5,550,000 - 2,700,000 - 8,250,000 issuance from exercise of the right Percentage of 67.27 - 32.73 - 100.00 total shares offered for conversion right (at this time) 4.Amount of money received from the sale of shares and the exercise of the conversion right of the convertible debentures First Portion Amount of money received from the sale of shares Total amount 108.0 million Baht Less expenses 0.0 million Baht Net amount received 108.0 million Baht Second Portion Amount of money received from the exercise of the conversion right of the convertible debentures - None - Remark : For this time, the value of shares issuance from the exercise of the conversion right of the convertible debentures amounted to 275 million Baht (Two hundred seventy five million Baht only). The Company hereby certifies that the information contained in this report is true and complete in all respects. Signed (Kitti Thanakitamnuay) Managing Director Signed (Sitti Leelakasamelerk) Director