Noble Declares Special Cash Dividend With $202M Payout

Noble Corporation announced that the Company's Board of Directors has declared a special cash dividend of $.75 per ordinary share. The dividend payout will total approximately $202 million based on the number of ordinary shares of the Company currently outstanding. The special cash dividend will be paid on May 16, 2008 to shareholders of record on April 30, 2008.

The Company's Board of Directors took no action to modify the Company's existing dividend policy, which became effective in the first quarter of 2005, of paying a quarterly cash dividend. The Company's Board of Directors has an agenda item scheduled for its April 30, 2008 meeting to consider the quarterly cash dividend for the 2008 second quarter.

The declaration and payment of dividends in the future are at the discretion of the Company's Board of Directors, and the amount of any future dividends will depend on our results of operations, financial condition, cash requirements, future business prospects, contractual restrictions and other factors deemed relevant by the Company's Board of Directors.


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