SET Announcements

May 8, 2002 To: Warrant Holders of Noble Development Pubic Company Limited Re: Information regarding the exercise of warrants (NOBLE-W1) Noble Development Public Company Limited would like to inform the processes of exercise right of the warrants to purchase the Company's ordinary shares (NOBLE-W1) as follows: 1. Subscription period : The warrant holders must submit the subscription form, together with the document described in clause 4, within 5 business days prior to the exercise date of the warrants. For this period, the exercise period is May 16-22, 2002 between 9.00 am to 4.00 pm, and the exercise date is May 23, 2002. 2. Exercise ratio : one unit of warrant to one ordinary share. 3. Exercise price : 6 baht per ordinary share (in the case where there is any legal restriction that does not allow the exercise on that price, the exercise price shall be the par value of the ordinary share of the Company). 4. The procedure for the exercise the right of warrants or equivalent documents : the procedure can be separated into 2 methods. 4.1 Exercise the right of warrants in form of warrants certificate (script) by submitting the following documents - Completed subscription form, which can be obtained at Noble Development Public Company Limited. - Warrant certificate signed by the warrant holders at the back, or an equivalent document conforms to the Stock Exchange of Thailand (SET) regulations (in case that warrant certificate is lost), which defines the same number as specified in the subscription form. - Payment of the amount specified in the subscription form by cheque or draft dated not later than May 23, 2002 that can be cashed in Bangkok only and made payable to "Noble Development Public Company Limited for subscribe newly issued ordinary shares". - Copy of certified identification card /copy of passport in case of regular person or copy of certification from Department of Commerce in case of corporation. - Power of Attorney letter with stamp duty (if any). 4.2 Exercise the right of warrants without warrants certificate (scriptless) The warrant holders without script (Scriptless) who intend to exercise the rights, have to inform and complete the request form with his or her brokers to issue the certificate of warrants or equivalent documents according to the SET's rules and regulations. The brokers shall inform Thailand Securities Depository Co., Ltd to issue the warrants or equivalent documents in the amount according to the letter of intent. Then the warrant holders shall use the certificate of warrants or equivalent documents as a required document to exercise the rights by submitting the required documents stated in 4.1. 5. Subscription Location : Warrant holders can submit the subscription form to exercise the right at Noble Development Public Company Limited 19th Floor, Tonson Tower, 900 Ploenchit Road, Lumpini, Pathumwan, Bangkok 10330, Tel. 0-2251-9955 Ext. 1410, 1411. Please be informed. Sincerely, Sitti Leelakasamelerk Director