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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 November 25, 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 offered Ordinary shares Number of shares offered 4,506,513 shares (Four million five hundred six thousand five hundred and thirteen 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) Bank of Asia Public Co.,Ltd 2,500,000 shares 2) TISCO Finance Public Co.,Ltd 1,331,513 shares 3) Pracha Phonecards Co.,Ltd 225,000 shares 4) Osathanugrah Holding Co.,Ltd 225,000 shares 5) The Industrial Finance Corporation of Thailand 225,000 shares Total 4,506,513 shares Price per share 1) Baht 10 (Ten Baht only) per share for Bank of Asia Public Co.,Ltd., TISCO Finance Public Co.,Ltd., The Industrial Finance Corporation of Thailand. 2) Baht 12 (Twelve Baht only) per share for Pracha Phonecards Co.,Ltd.and Osathanugrah Holding Co.,Ltd. Subscription Date and 1) November 15, 1999 for Bank of Asia Public Co.,Ltd, Payment Date TISCO Finance Public Co.,Ltd, Pracha Phonecards Co., Ltd and Osathanugrah Holding Co.,Ltd 2) November 23, 1999 for The Industrial Finance Corporation of Thailand Second Portion Exercise of the conversion right of the convertible debentures Category of shares offered Ordinary shares Number of shares issuance 900,000 shares (Nine hundred thousand shares ) from exercise 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) Pracha Phonecards Co.,Ltd 450,000 shares 2) Osathanugrah Holding Co.,Ltd 450,000 shares Total 900,000 shares Conversion Ratio 1 Convertible Debenture to 30 Shares. Exercise Price - None - Conversion Date November 15, 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 5 - - - 5 Number of shares subscribed 4,506,513 - - - 4,506,513 Percentage of total shares offered for sale(at this time) 100.00 - - - 100.00 Second Portion Exercise of the conversion right of the convertible debentures Thai Investors Foreign Investors Total Juristic Natural Juristic Natural Persons Persons Persons Persons Number of persons 2 - - - 2 Number of shares issuance 900,000 - - - 900,000 from exercise of the right Percentage of total shares 100.00 - - - 100.00 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 45.97 million Baht Less expenses 0.00 million Baht Net amount received 45.97 million Baht Second Portion Amount of money received from the exercise of the conversion right of the convertible debentures - None - Remarks : 1.The sale of shares for this time is in the portion of 183,500,000 ordinaries shares, declared in the Capital Increase Report dated August 10,1999. 2.For this time the value of shares issuance from the exercise of the conversion right of the convertible debentures amounted to 30 million Baht (Thirty 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