SET Announcements

February 28, 2006 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, 2005, the Company reported net profit of Baht 456.43 million, increased by 36.4 percent comparing to Baht 334.61 million net profit in the year 2004, the Company would like to clarify that the change of the performance more than 20 percent compared to the previous year was mainly due to 1. The Company recorded revenues from real estate business of Baht 2,457.88 million in 2005, increased from Baht 1,770.22 million in 2004 or increased by 38.9 percent. Gross profit margin of real estate business was 39.5 percent. 2. The Company recorded revenues from Playground Store, opened in April 2005, of Baht 48.02 million, at 46.4 percent gross profit margin. 3. Selling and administrative expenses in the year 2005 totaled of Baht 418.09 million, equal to 16.7 percent of revenue from sales, comparing to 24.0 percent in the year 2004. The decrease was mainly due to the Company's selling and marketing expenses decreased from 7.9 percent of revenue from sales in the year 2004 to 2.0 percent in the year 2005. 4. In 2005, the Company had net profit margin before tax equal to 22.7 percent, increased from 18.2 percent in the year 2004. Please be informed. Sincerely, Sitti Leelakasamelerk Director Authorized to sign on behalf of the Company