SET Announcements

May 12, 2010 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 three months ended March 31, 2010 reported net profit of Baht 195.88 million, changed more than 20 percent compared to Baht 80.22 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 2010, the Company's revenue from real estate development business was Baht 742.96 million, increased by 34.2 percent compared to Baht 553.42 million of the previous year. The increase was mainly due to the success of sales and transfer of the completed projects, and also the substantial construction progress of the condominium projects. At the end of the first quarter for the year 2010,the Company has unrealized sales (backlog) with approximately of Baht 4,800 million. 2. Total expenses for the first quarter of the year 2010 was Baht 21.56 million, or 80.5 percent decreased from Baht 88.92 million of the previous year, due to the reversal of specific business tax of more than Baht 70 million, which resulted from the transfer of the ownership of completed units before the expiration of tax measurement, March 26,2010. Therefore, the Company's net profit margin before income tax was 34.8 and net profit margin was 25.6 percent, increased from 20.1 and 14.1 percent of the year 2009 respectively. Please be informed accordingly. Sincerely, Vasana Thieansirisak Director Authorized to sign on behalf of the Company