Noble Group 1H Financial Highlights

Financial Highlights – 1H 20081

􀁺Revenue rose to $19.9 billion in 1H 2008 vs$10.1 billion in 1H 2007
􀁺Gross profit hit a record six month level of $778 million with a 3.9% gross profit margin
􀁺Net profit rose to $290 million -a 1.5% NPM versus 1.0% level in 1H 2007
􀁺Return on average shareholders’equity achieved an annualized 33.9%
􀁺Cash of $803 million and available committed/ uncommitted banking facilities of $2.5 billion
􀁺Gross Debt/EBITDA improved to 3.01x for 2ndQ 2008 and 3.30x for 1stH 2008

FIRST HALF 2008 RESULTS - NOBLE GROUP STRATEGY RESULTS IN RECORD FINANCIAL RESULTS

REVENUES : UP 98% TO RECORD US$19.9 BILLION

GROSS PROFITS : UP 138% TO RECORD US$778 MILLION

NET PROFITS : UP 191% TO RECORD US$290 MILLION

Noble Group (SGX: NOBL), a global supply chain manager of agricultural, metals, minerals and ores, and energy products, announced record Group revenues ofUS$19.9 billion and US$10.4 billion for the six months and second quarter periods, respectively, ended June 30, 2008. Revenues growth continues to be well diversified with each of our four business segments reporting revenues increases of between 65% and 125% compared to their respective first half 2007 results.

Group tonnage volume rose to a record 77.5 million metric tons, a 32% increase for the sixmonths ended June 30, 2008, led by strong increases in the Group’s bulk commodity divisions: iron ore, coal and coke, and grain as well as from our clean fuels, aluminium andchartering divisions.

Group gross profits rose to a record US$778 million in the first half 2008 compared to US$327 million in the first half 2007 with each business segment reporting significantly improved results. Profit diversification continues with each of the segments contributing between 20-30% of the aggregate Group gross profits. Gross profits for the second quarter 2008 were US$423 million compared to US$194 million for the second quarter 2007.

Gross profits for the first half 2008 reflected the highest six month total in the Group’shistory while the second quarter’s gross profits represented the fifth consecutive quarterly increase. Chairman David Eldon commented, “Our first half 2008 business performance reflects verypositive results and demonstrates Noble’s business strategy is working well. Noble’s management team has focused on positioning the Group to take advantage of strong demand fundamentals, accessing low cost production capacity, and building a pipeline strategy which creates multiple profit points linked to high demand markets. As the team executes, it creates an opportunity to build on our successes and a long term sustainable business.”

Noble’s net income for the first half 2008 was US$290 million and nearly triple the first half 2007 results. Net income in 2008 includes a one off gain on disposal of shares in the amount of US$48 million, but even excluding that event, first half 2008 net profitability represents the highest six month net profit level in the Group’s history.

Noble’s first half 2008 net income was higher than the result for any previous full financialyear. David Eldon added, “As we mentioned in our first quarter 2008 commentary, we are optimistic that even a moderate economic growth environment buoyed by continuing strong demand from our key consumer markets will continue to create a strong foundation for continued growth at Noble in 2008.”

The return on average shareholders’ equity was 33.9% for the first half 2008 compared to a20.6% return on equity for fiscal 2007. As of June 30, 2008, Noble maintained a cash position of US$803 million. For the first half 2008, earnings per share rose 169% to US9.07 cents per share compared toUS3.37 cents per share in the first half 2007.