SET Announcements

November 14, 2006 To: President The Stock Exchange of Thailand Re: Declaration of the Operating Results of Noble Development Pubic Limited Company and Subsidiaries According to the performance of Noble Development Public Company Limited and its subsidiaries for the nine months period ended September 30, 2006 reported net profit of Baht 236.20 million, and Baht 69.85 million for the third quarter, changed more than 20 percent compared to Baht 159.48 million the net profit for the same period of the previous year. The Company would like to clarify that the change of the performance is mainly due to 1.For 9 months of the year 2006, the Company recorded revenue from real estate development business of Baht 1,564.16 million, which recorded in the third quarter of Bath 531.01 million, compared to the previous year that the company recorded the revenue of Bath 1,680.62 million which Bath 793.02 million, almost 50% of total revenue, came from the third quarter because of Baht 292 million revenue recognition of Noble Ora Condominium. However, ended the third quarter of year 2006 the company has unrealized sale value which is expected to be realized amounting to Baht 2,900 million in the near future. 2.In the year 2006, new four projects, Noble Ambience Ruamrudee, Noble Ambience Sarasin, Noble Remix, and Noble Solo, were launched. Consequently, the marketing and advertising expenses have increased comparing to the previous year. 3.In the third quarter of year 2006, the Company's gross margin of 39.6 percent increased from the same quarter of the previous year recorded 39.4 percent and net profit margin before tax of the year 2006 was 20.6 comparing to 26.7 percent of the year 2005. Please be informed accordingly. Sincerely, Sitti Leelakasamelerk Director Authorized to sign on behalf of the Company