SET Announcements

May 14, 2009 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 for the three months ended March 31,2009 reported net profit of Baht 80.22 million, changed more than 20 percent compared to Baht 61.67 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. In the first quarter of the year 2009, the Company's gross profit was increased from the previous year of Baht 23.68 million, which mainly due to the increasing of gross profit margin from real estate development business, which equal to 40.4, increased from 39.0 percent of the year 2008. In addition, gross profit from rental and services business was increased from the previous year of Baht 7.01 million. 2. Selling and administrative expenses in the first quarter of the year 2009 equaled to 19.5 percent of revenue from sales and services, which increased from 19.0 percent of the year 2008. The increase of Selling and administrative expenses was mainly due to the increase of marketing expense for launching Noble Cube Project. 3. In the first quarter of the year 2009, the Company's net profit margin before income tax and net profit margin were 20.1 and 14.1 percent, which increased from 18.1 and 11.0 percent of the year 2008 respectively. Please be informed accordingly. Sincerely, Sitti Leelakasamelerk Director Authorized to sign on behalf of the Company