SET Announcements

January 29, 2002 To: President The Stock Exchange of Thailand Re: Report of utilizing proceeds received from the capital increase Noble Development Public Company Limited Regarding Noble Development Public Company Limited (the Company) issued and sold the 182,713,026 newly issued ordinary shares to the existing shareholders at a price of Baht 1.50 per share which the said newly issue shares was fully subscribed and the increased capital was Baht 274.07 million as the Company reported to SET on March 27, 2001. The objective of the utilization of the proceeds received from the capital increase is for assets acquisition to expand the business. The Company would like to inform you that as of December 31, 2001 the Company had so far fully and completely utilized the proceeds of Baht 274.07 million to acquire the assets to expand the business. Please be informed accordingly. Sincerely, (Sitti Leelakasamelerk) Director