SET Announcements

July 19, 2001 To: President The Stock Exchange of Thailand Re: Declaration the news regarding reduction of the par value to compensate accumulated loss Noble Development Public Company Limited ("the Company") would like to explain the news, regarding reductions of the par value to compensate the company's accumulated loss, appear in Bisnews on July 18, 2001 as follows; As reporters interviewed and questioned on the company's accumulated loss, the Company has explained that since the new Public Limited Companies ACT allows the public company to reduce its' par value to compensate accumulated loss, the Company will study the new rules and regulations to find a suitable approach based on the best benefit of the shareholders. Regarding the questions about the time frame, the Company explained that the Company expects to have the best approach by the third Quarter of this year. Please be informed. Sincerely, (Kitti Thanakitamnuay) (Sitti Leelakasamelerk)