Noble : Acquisition of shares in Atlas Resources

(Singapore, November 11, 2011)--The board of directors of Noble Group Limited wishes to announce that the Company?s wholly-owned subsidiary Japet Resources Pte. Ltd.has purchased a total of 237,350,000 shares of PT Atlas Resources, representing approximately 7.912% of the total issued share capital of PT Atlas.

The aggregate value of the consideration for the Acquisition is US$29,880,000. The Consideration was arrived at on a willing buyer willing seller basis taking into account, inter alia, prevailing market conditions. The Consideration will be satisfied through the Company converting an existing debt owed by the vendor of the Atlas Shares to the Company.

As at 30 June 2011, the book value of the Atlas Shares was approximately $63.5 million and the net tangible asset value of the Atlas Shares was approximately $29.6 million.

Based on the weighted average share price of the shares of PT Atlas on the Indonesia Stock Exchange (IDX) on 8 November 2011 (being the last market day on which the shares of PT Atlas were traded on the IDX preceding the date of the Acquisition), the market value of the Atlas Shares is approximately $40,977,4661.

The Acquisition is not a discloseable transaction for the purposes of the Listing Manual of the Singapore Exchange Securities Trading Limited. The Acquisition is therefore not material for the purposes of the Listing Manual.

None of the directors or the controlling shareholders of the Company have any interest, direct or indirect, in the Acquisition, other than by reason of being such a director or controlling shareholder of the Company. (ends)