Noble International (NOBL) Suspends Dividend

July 16, 2008 5:35 PM EDT

Noble International, Ltd. (Nasdaq: NOBL) today announced that the Board of Directors has decided to immediately suspend the payment of dividends on the Company's common shares.

Thomas Saeli, Noble's CEO, said, "The Noble Board has made the appropriate decision to suspend the Company's dividend given the weak economic and automotive environments in North America. We believe that this action is in the best interest of both shareholders and the Company as it allows Noble to protect liquidity while giving management the necessary flexibility to continue making investments in high growth emerging markets. Suspension of our dividend is one of many cash generation and cost efficiency measures that we have undertaken this year to help offset lower production volumes. Other actions have included facility closures and restructuring, capital spending elimination, overhead and operating efficiencies, and working capital management. We have been working aggressively and will continue to do so to manage our cash and reduce operating expenses with the expectation of lower production volumes in North America for the foreseeable future. We hope to be in a position to consider resumed dividend payments when conditions are more favorable."

Noble International, Ltd., through its subsidiaries, provides laser-welded blanks, tubular products, and roll-formed products for the automotive industry primarily in North America and Europe.

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