SET Announcements

March 1, 2002 To:President The Stock Exchange of Thailand Re:Declaration of the performance of Noble Development Public Company Limited and its subsidiaries According to the performance of Noble Development Public Company Limited and its subsidiaries for the year ended December 31, 2001 reported net loss of 130.64 MB comparing to 14.80 MB net profit for the same period of the previous year, the Company would like to clarify that the change of the performance more than 20% compared to the previous year is mainly due to In the year 2000, the company recorded gain on disposal of investment in the company's subsidiary totaling 65.89 MB and because of debt forgiveness from construction contractor of a Company's subsidiary amounting 17.43 MB in the same year, the net profit for the year 2000 higher than the year 2001. However, in 2001 revenue from sales increased totaling 65.73 MB, equal to 92% and interest expense decreased 46% comparing to the previous year. Please be informed. Sincerely, Sitti Leelakasamelerk Director