SET Announcements

January 28, 2000 Manager The Stock Exchange of Thailand Dear Sir: From October 5,1999 to December 14,1999, Noble Development Public Company Limited issued 36,356,513 ordinary shares, the issuance consisted of: First Portion Issued and sold of 23,606,513 ordinary shares, totaling 164.97 million Baht. Second Portion Issued 12,750,000 ordinary shares for the exercise of conversion right of the 425,000 units of convertible debentures,Baht 1,000.00 per unit. The exercise price was Baht 1,000.00 of convertible debentures to 30 ordinary shares, total value was 425.00 million Baht. The Company would like to report utilization of proceeds, received from the said ordinary shares issuance,ended December 31,1999 as follows: Unit : Million Baht Objectives Plan from the Capital Actual Utilization Increase Report Form Dated August 10,1999 1. To repay debt 785.00 589.97 2. To be used as a 100.00 - working capital 3. To be used for the 5,732.50 - expansion of business Total 6,617.50 589.97 Please be informed that the utilization proceeds plan, according to the Capital Increase Report Form dated August 10, 1999, was calculated based on number of capital shares increase, approved by the Board of Directors meeting, equal to 638,750,000 ordinary shares. Sincerely, Sitti Leelakasamelerk Director