Noble Declares Quarterly Cash Dividend

Noble Corporation announced that the Company's Board of Directors declared a quarterly cash dividend of $0.04 per ordinary share. The cash dividend of $0.04 per ordinary share will be paid on August 29, 2008 to shareholders of record on August 13, 2008.

"We are pleased to announce our quarterly cash dividend, however, in consideration of our view regarding the strength and longevity of the current industry cycle, we elected to retain available cash to better position the Company to pursue possible strategic investment options for building the Company's asset base rather than paying a special dividend," said Noble Corporation Chairman, President and Chief Executive Officer David W. Williams.

"Nevertheless, the Company will continue to analyze means of returning cash to the Company's shareholders. This could include further purchases of the Company's outstanding ordinary shares under the existing share repurchase program, as well as the consideration of payment of additional dividends in the future."