SET Announcements

March 1, 2007 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 year ended December 31, 2006 reported net profit of Baht 301.81 million, changed more than 20 percent compared to Baht 456.43 million the net profit for the previous year. The Company would like to clarify that the change of the performance is mainly due to 1.The Company recorded revenue from real estate development business of Baht 2,050.49 million in 2006, comparing to Baht 2,457.77 million in 2005. This was because of the construction acceleration of Noble Ora Condo, Noble Lite, and Noble 09 for transferring to customers. As a result, the Company recorded revenue from condominium projects amounting of more than Baht 1,170 million. However, the total pre-sales of company in 2006 were Baht 4,340 million, increasing by Baht 2,370 million from Baht 1,970 million of the previous year. Consequently, at the ended of year 2006 the company has unrealized sale value (backlog) which is expected to be realized in the near future amounting to Baht 3,040 million. 2.The Company continuously maintained the level of gross margin, which the gross margin from real estate development business was 40.1% in 2006, increasing from 39.5% in 2005. 3.Selling and administrative expenses in the year 2006 totaled of Baht 427.89 million, increasing by Baht 10.71 million from 2005. Income tax for the year 2006 totaled of Baht 128.76 million, increasing from Baht 112.55 million in 2005. Please be informed accordingly. Sincerely, Sitti Leelakasamelerk Director Authorized to sign on behalf of the Company