SET Announcements

March 1,2001 Manager The Stock Exchange of Thailand Declaration of the performance of Noble Development Public Company Limited and its subsidiaries Dear Sir: According to the performance of Noble Development Public Company Limited and its subsidiaries for the year ended December 31,2000 reported net profit 14.80 MB increased from the previous year which reported net loss 1,115.77 MB. The company would like to inform that the increase of the net loss more than 25% compared to the previous year mainly due to: 1. Interest expenses Since the success of the company's debt restructuring in 1999, interest expenses for the year 2000 were obviously decreased of 288.66 MB compare to the previous year. The company and its subsidiaries recorded net loss from debt restructuring as expenses totaling 131.74 MB in 1999. 2. Loss from Impairment of Assets According to the Accounting Standard No. 36, about impairment of assets, effective in 1999, the company recorded the value of the assets by using the new appraisal value and recorded loss from impairment of assets totaling 420.31 MB in 1999. 3. Selling and Administration expenses Selling and Administration expenses decreased from the previous year totaling to 170.02 MB,mainly due to the company recorded adjustment on goodwill amortization, provision for doubtful debt and adjustment for write off of assets as expenses in 1999. In additional , deferred income taxes was recorded in 1999 amounted to 103.33 MB. 4. Sales Revenues Although in 2000 revenue from sales was decreased, the company's gross profit increased amounted to 132.12 MB compared to the previous year. 5. Gain from sale of investment in subsidiary In 2000, The company recorded gain on disposition of investment in Bannsiam Co.,Ltd, one of the company's subsidiaries, totaling 65.89 MB. Please be informed. Sincerely, Sitti Leelakasamelerk Director