SET Announcements

May 15, 2001 Re: Declaration of the performance of Noble Development Public Company Limited and its subsidiaries To: President The Stock Exchange of Thailand According to the performance of Noble Development Public Company Limited and its subsidiaries for the three months period ended March 31, 2001 reported net loss 16.98 MB, the net loss increased more than 20% from the same period of the previous year which reported net profit 6.61 MB. The Company would like to clarify that the increase of the net loss compared to the previous year mainly due to The success of debt restructuring, a construction contractor payable of the Company's subsidiary forgave the debt due to the contractor and also the construction retention during the first quarter of year 2000, so cost of sales was decreased amounting 15.36 MB. Besides, there was gain from forgiveness by account payable-construction totaling 1.81 MB. Because of the said reasons, net profit in the year 2000 was higher relative to year 2001. Please be informed. Sincerely, Sitti Leelakasamelerk Director