SET Announcements

August 14, 2001 To:President The Stock Exchange of Thailand Re :Report on the Resolution of the Board of Directors Meeting No. 9/2001 Attachment : KorLorTor. Jor. No. 1323/2001 Re: the permission of the offering of the warrants to purchase ordinary shares and ordinary shares reserved for the exercise of the warrants Noble Development Public Company Limited (the Company) would like to inform you that the Board of Directors Meeting No. 9/2001 held on August 14, 2001 from 2.00 pm. to 2.45 pm. passed the resolution as followed: Regarding the Company allotted 182,713,026 ordinary shares to the existing shareholders whose name appeared on the register of shareholders as of February 27,2001 closed at 12:00, who subscribed the ordinary shares between 14-20 March, 2001. The existing shareholders who subscribe one ordinary share are entitled to receive one unit of warrant with no cost, according to the resolutions of the Extraordinary Shareholders Meeting No.2/2000 held on October 16, 2000 and the resolutions of the Board of Directors Meeting No. 2/2001 held on February 12, 2001. The Company has been granted the permission from the Securities Exchange Commission to allot the warrants, to purchase ordinary shares, on August 10, 2001, according to KorLorTor. Jor. No. 1323/2001. The Board of Directors Meeting unanimously approved the date of the issuance of the warrants, shall be on August 24, 2001 and the date of exercise the warrants, shall be every three months between 9.00 am to 4.00 pm of 24th day of February, May, August and November until the expiration date of the warrants. In case of that the exercise date is on the Company's holiday or weekend, the said date shall be postponed to the next business day. The expiration date of the warrants is 5 years from the issuance date. In the event that the average price of the ordinary shares of the Company which are traded on the Stock Exchange of Thailand reaches Baht 8 (Eight Baht), holders of the warrants to purchase ordinary shares will be entitled to exercise the right under the warrants only for one time, provided that the holders of the warrants can deliver the intention to exercise the said warrants for the last time within 15 days before the last exercise date. After the said last exercise date, the warrants to purchase ordinary shares will then expire. In this regard, the calculation of the average price of the ordinary shares of the Company will be based on the closing price of the ordinary shares of the Company which are traded on the Stock. Exchange of Thailand at the end of daily trading period of any 15 (Fifteen) consecutive business day period. Sincerely, Mr. Sitti Leelakasamelerk Directorn