SET Announcements

(F53-5) Form of Report to the Exchange of the Results of the Exercise of the Conversion Right of the Convertible Debentures. Noble Development Public Company Limited Date December 14, 1999 1.Information relating to exercise of the conversion right of the convertible debentures. Exercise of the conversion right of the convertible debentures Category of shares offered Ordinary shares Number of shares issuance 3,600,000 shares from exercise of the right (Three million and six hundred thousand 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 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 : - Property Innovation Company Limited 3,600,000 shares Conversion Ratio 1 Convertible Debenture to 30 Shares. Exercise Price - None - Conversion Date December 14, 1999 2.Result of the exercise of the conversion right of the convertible debentures : 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.Detail of the exercise of the conversion right of the convertible debentures 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 1 - - - 1 Number of shares issuance from 3,600,000 - - - 3,600,000 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 exercise of the conversion right of the convertible debentures - None - Remarks : - For this time the value of shares issuance from the exercise of the conversion right of the convertible debentures amounted to 120 million Baht (One hundred twenty million Baht only). - For this time the company issued and sold 120,000 units of the convertible debentures which all of conversion right was exercised. The Company hereby certifies that the information contained in this report is true and complete in all respects. Signed_______________________ (Kitti Thanakitamnuay) Managing Director Signed______________________ (Thongchai Busarapan) Director