NOTIFICATION OF THE LAST EXERCISE OF THE WARRANT (NOBLE-W1)

24 June 2002
June 21, 2002 To: President The Stock Exchange of Thailand Re : Notification of the last exercise of the Company's warant (NOBLE-W1) Noble Development Public Company Limited (the Company) would like to inform the schedule of the exercise of the Company's warrant (NOBLE-W1) since the average price of the ordinary shares of the Company reached Baht 8 on June 14,2002 (the calculation based on the closing price of the ordinary shares which traded on the Stock Exchange of Thailand at the end of daily trading period of any 15 consecutive business day period), which is the last exercise. The Company's board of directors' meeting passed the resolutions as the following : 1. Number of warrant : 182,713,026 units 2. Exercise price and Exercise ratio: 1 unit of warrant to 1 ordinary share at Baht 6 per share 3. The date to suspend the warrant trading : The Stock Exchange of Thailand will post "SP" sign to suspend the warrant trading from July 11, 2002 4. The closing date of the warrant register book of the Company : From 12.00 am. of July 16, 2002 to August 5, 2002. 5. The Exercise date : The last exercise date is August 6, 2002. The warrant holders who intend to exercise their rights must submit the intention form and all required documents to the Company within the subscription period in the business day during July 22, 2002 to August 5, 2002 between 9.00 am. to 4.00 pm, otherwise, the warrant holders will not be able to exercise their rights. Please be informed accordingly. Sincerely, Kitti Thanakitamnuay Managing Director