This work presents a simple analytical model for the low frequency noise in ultrathin oxide MOSFETs of advanced bulk CMOS technology. The developed formulations of the gate leakage and drain current noise are based on a flat band voltage concept and analyzed with respect to noise measurements. Its proves very effective in describing the overall drain current noise as well as the gate current one. A special attention is given to the description of the huge excess drain noise experimentally observed in large area devices by sum of the both drain and gate current noise contributions using gate-partitioning coefficients. A comparison with a multidimensional macroscopic approach based on the calculation of the spectral density of current fluctuations implemented through the two-dimensional impedance field method is also presented.