Step 1: Recall the rules.
"Exclaimed with delight" in indirect speech converts into an exclamatory direct sentence.
Step 2: Analyze options.
(A) "What a nice drama it is!" — correct transformation.
(B) Wrong tense — "says" and "was" mismatch.
(C) Wrong tense — future form "will say."
(D) Wrong auxiliary — "can say" not suitable.
Step 3: Conclusion.
Correct is (A).