DECLARE PERFORMANCE FOR YEAR ENDED DECEMBER 31, 1999

29 กุมภาพันธ์ 2543
February 28,2000 Manager The Stock Exchange of Thailand Dear Sir: According to the performance of Noble Development Public Company Limited and its subsidiaries for the year ended December 31,1999 reported net loss 943.80 MB decreased from the same period of the previous year which reported net loss 580.51 MB. The company would like to clarify reasons of the decrease of the net loss more than 20% compared to the previous year by separating the net loss into 3 categories. Details are as follows: 1. Loss from Debt Restructuring In 1999, the company and its subsidiaries restructured its debts with financial institution creditors and debenture creditors. According to the debt restructuring, the company and its subsidiaries' liabilities including obligations were decreased totaling 1,935.27 MB. Net loss from the debt restructuring of 131.74 MB was recorded. 2. Loss from Impairment of Assets According to the Accounting Standard No. 36 about impairment of assets, the company recorded the value of the assets by using the new appraisal value and recorded loss from impairment of assets totaling 314.62 MB in 1999. 3. Loss from Normal Operations Loss from normal operations totaled 497.68 MB in 1999 and 580.51 in 1998. Comparing to the previous year, the company and its subsidiaries' loss from operation decreased in total amount of 84.31 MB or 14%. Please be informed. Sincerely, Sitti Leelakasamelerk Director