Noble Corp. Declares Dividend

Noble Corporation reported that the Company's Board has established the record date and payment date for a dividend in the form of a reduction of the par value of the Company's shares, which was previously approved by the Company's shareholders. The dividend payment will be in the amount of 0.10 Swiss francs (CHF) per share and is subject to the completion of certain Swiss legal requirements. The ex-dividend date will be August 7, 2009, with a record date of August 11, 2009 and a payment date of August 26, 2009.

The dividend will be paid in U.S. dollars based on the CHF/USD exchange rate available approximately two business days prior to the payment date. Although the amount of the dividend, expressed in Swiss francs, is fixed, the dividend payment in U.S. dollars will fluctuate based on the exchange rate.

On May 28, 2009, the shareholders of the Company approved a dividend through a reduction in par value in an aggregate amount equal to 0.25 CHF per share, to be paid in four installments. The 0.10 CHF per share dividend described above will be the first of these installments. The Company's par value is currently CHF 5.00 per share. In connection with the dividend described above, the par value per share will be reduced by CHF 0.10 to CHF 4.90.