SET Announcements

April 23, 2003 To: President The Stock Exchange of Thailand Re: Report on the Resolutions of the Annual General Meeting of Shareholders for the Year 2003. Noble Development Public Company Limited (the "Company") would like to inform you that the Annual General Meeting of Shareholders held on Wednesday, April 23, 2003, at 10.00 a.m. at Hotel Plaza Athenee, Salon Athenee Room, Wireless Road, Pathumwan, Bangkok, passed the resolutions as follows: 1. Acknowledged the Company's operating performance for the year 2002. 2. Unanimously approved the Company's audited balance sheet and profit and loss statement for the fiscal year ended December 31, 2002. 3. Unanimously approved to pay annual dividend for the year 2002 of Baht 0.15 per share to the shareholders whose names appear on the register of shareholders on April 3, 2003, at 12.00 noon and to allocate five percent (5%) of the Company's net profit for the year 2002 to the legal reserve fund. The date of dividend payment will be on April 30, 2003. 4. Unanimously approved to re-appoint four directors retired by rotation, who are Mr. Thakonkiat Viravan, Mr. Sitti Leelakasamelerk, Mrs. Boonperm Jiamtiranat and Mr. Surachet Suboonson, as the Company's directors and fixed remuneration of the directors of the Company, the Chairman of the Audit Committee and the members of the Audit Committee for the year 2003 as follows: 1. The directors of the Company - totaling not exceed Baht 2,000,000 / year 2. The Chairman of the Audit Committee - Baht 120,000 / year 3. The members of the Audit Committee - Baht 100,000 / person / year 5. Unanimously approved to appoint Mr. Boonmee Ngotngamwong Certified Public Accountant (Thailand) No.3673, Mr. Kajornkiet Aroonpirodkul, Certified Public Accountant (Thailand) No.3445 and Mr. Prasit Yuengsrikul, Certified Public Accountant No.4174 of PricewaterhouseCoopers ABAS Limited as the Company's and its subsidiaries' auditor, any one being authorized to conduct the audit and express an opinion on the annual financial statements of the Company and its subsidiaries. In the absence of the above-named auditors, PricewaterhouseCoopers ABAS Limited is authorized to identify one other Certified Public Accountant with PricewaterhouseCoopers ABAS Limited to carry out the work. The meeting also unanimously approved the audit fees of the Company and its subsidiaries for the year 2003 totaling Baht 1,779,000. 6. Unanimously approved the issuance and offer for sale of debentures, preliminary details of which are as follows: Type: Unsubordinated and Unsecured, with or without a debenture holders' representative Currency: Baht Issue size: Up to Baht 1,000,000,000 (one thousand million) Tenor: Not more than 5 (five) years Par Value: Baht 1,000 (one thousand) per unit Issue Price: Baht 1,000 (one thousand) per unit Allocation Method: Domestic and/or international offering to the public and/or institutional investors and/or specific investors Coupon rate: Upon the market conditions on the date of issuance and offer for sale of debentures Coupon payment: Every 6 (six) months from the date of issuance of the debentures In addition, the Board of Directors or person(s) authorized by the Board of Directors shall have the authority to determine any conditions and other details necessary for and pertinent to the issuance and offer for sale of debentures, such as the determination of the name, number, type, total amount, interest rate, allocation method, details of offering for sale, right of early redemption, etc., including to arrange for the registration of such debentures in the Thai Bond Dealing Centre or any other secondary markets as well as to seek approval from the relevant authorities and take any actions necessary for and pertinent to the issuance of the debentures. Please be informed accordingly. Sincerely, Kitti Thanakitamnuay Managing Director 04/22/2003 11:34 (2K) BANGKOK 88926 v1 [1wm601!.DOC] 04/22/2003 11:34 (2K) BANGKOK 88926 v1 [1wm601!.DOC]