SET Announcements

November 10, 2008 To: President The Stock Exchange of Thailand Re: Declaration of the Operating Results of Noble Development Public Company Limited and Subsidiaries According to the performance of Noble Development Public Company Limited "the Company" and its subsidiaries for the nine months ended Sep 30, 2008 reported net profit of Baht 233.77 million which Baht 81.16 million was the net profit from the third quarter, changed more than 20 percent compared to Baht 104.48 million of net profit at 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 nine months of the year 2008, the Company recorded revenue from real estate development business of Baht 1,668.54 million, which recorded in the third quarter of Bath 548.97 million, compared to the previous year that the Company recorded the revenue of Bath 1,371.67 million which Bath 744.65 million came from the third quarter.The decrease of revenue in the third quarter came from the single detached house projects, Noble Tara Ngamwongwan, Noble Tara Ngamwongwan 2, which were already sold out. In addition,the Company has unrealized sale (backlog) approximately of Baht 3,300 million. 2. The gross profit margin from real estate development business was 39.4 percent for the third quarter of the year 2008, compared to 37.0 percent of the year 2007. 3. In the third quarter of the year 2008, the Company's net profit margin before income tax and net profit margin were 21.6 and 14.5 percent respectively, which increased from 20.3 and 13.6 percent of the year 2007. Please be informed accordingly. Sincerely, Sitti Leelakasamelerk Director Authorized to sign on behalf of the Company