SET Announcements

October 29,1999 Re : Declaration of Projected Net Profit and EPS appeared on the news To : President The Stock Exchange of Thailand Noble Development Public Company Limited ("Company") would like to take the opportunity to explain about the projection of Noble Development, Net Profit and Earning Per Share News that appear in today's Manager Daily Newspaper as follow: According to the company shareholders' resolution dated 14 September 1999, for the increased of capital to 6,937.5 Million Baht, the press had interviewed company executive about the progress, the plan to use of proceeds and expected Net Profit and Earnings Per Share. The company has explained to the press that the company intends to invest 2 Billion Baht amount of capital in the Property Fund vehicle and expected the average return from investment at IRR 25%. The company also expected amount of shares after restructure and recapitalize to be around 294 Million Shares. Therefore based on this assumption, the company should earn Net Profit for the amount of 728 Million Baht or equal to 1.84 Baht earnings per share. The company has given the answer to that particular question based on the above assumption. Sincerely, Noble Development Public Company Limited _______________________________________ (Kitti Thanakitamnuay) (Thongchai Busrapan)