SET Announcements

May 9, 2008 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 "the Company"and its subsidiaries and the performance of the Company for the three months ended March 31,2008 reported net profit of Baht 61.67 million and Baht 14.30 million respectively, increased by 462.3 percent and 33.1 percent, compared to the performance of the year 2007 that reported net profit of Baht 10.97 million and Baht 10.74 million. The Company would like to clarify that the change of the performance is mainly due to 1. In the first quarter of the year 2008, the Company recorded revenue from sales - real estate development business Baht 547.28 million, increased by 155.5 percent compared to Baht 214.20 million of the year 2007 due to the revenue recognition from condominium projects. Ended March 2008, the Company has unrealized sale (backlog) approximately of Baht 3,700 million. 2. The gross margin from real estate development business was 39.0% in the first quarter of the year 2008, compared to 38.4 percent of the year 2007. 3. Selling and administrative expenses in the first quarter of the year 2008 equaled to 18.8 percent of revenue from sales and services, which decreased from 33.6 percent of the year 2007. 4. In the first quarter for the year 2008, the Company's net profit before income tax margin and net profit margin were 18.1 and 11.0 percent respectively, which increased from 8.3 and 4.7 percent of the year 2007. Please be informed accordingly. Sincerely, Sitti Leelakasamelerk Director Authorized to sign on behalf of the Company