Noble Prices Offering of Senior Notes

Noble Corporation announced that its indirect wholly-owned subsidiary, Noble Holding International Limited ("NHIL"), has priced an offering of $250 million aggregate principal amount of 7.375% Senior Notes due 2014. Noble will fully and unconditionally guarantee the notes on a senior unsecured basis.

The estimated net proceeds of approximately $247.2 million are expected to be used to repay $150 million of long-term debt of a subsidiary of Noble that matures in March 2009 and outstanding balances under Noble's unsecured revolving bank credit facility, in each case plus accrued interest. The remaining proceeds are expected to be used for general corporate purposes.