SET Announcements

May 30, 2007 To: President The Stock Exchange of Thailand Re: Clarification on dividend payment policy Since January 1, 2007, Noble Development Public Company Limited (the"Company") has changed the accounting policy to comply with the Thai Accounting Standard related to TAS 44"Consolidated financial statements and accounting for investments in subsidiaries" and TAS 45"Accounting for Investments in Associates", which were changed from the equity method of accounting to cost method of accounting for investment in subsidiary and an associate presented in the separate financial statements. Consequently, the Company's consolidated and separate financial statements showed different net profit. In order to explicitly the dividend payment policy, the Board of Directors' Meeting No. 8/2007, held on May 30, 2007, passed the resolution that the Company's dividend payment is considered from its operating result, business expansion, and other related factors, but no less than 25 percent of net profit shown in the separate financial statements, the financial statements of the Company only, each year. However the stated policy is subjected to the resolution of the Company's shareholders' meeting. Please be informed accordingly. Sincerely, Sitti Leelakasamelerk Director Authorized to sign on behalf of the Company