BSE has decided to admit Twenty Five entities for membership rights on the "Cash Segment" of BSE by inviting offers from all over the country, for a minimum entrance fee of Rs. 90,00,000/- (Rupees Ninety Lakhs only).

Those persons who desire to apply for membership rights of the Exchange may send their offers (clearly indicating the amount of offer) in writing in a sealed envelope superscribing "Purchase of Membership Right Offer No. 02/2005-2006" and addressed to the Executive Director and CEO, BSE, 25^th Floor, P.J. Towers, Dalal Street, Fort, Mumbai 400 001, so as to reach his office latest by 5.00 p.m. on Monday, June 27, 2005.

The applicants must note the following terms and conditions:

1. The offer should be made in the prescribed application form and be completed in all respect.
   
   
2. The Specimen of application form as well as other materials including the terms and conditions for the offer are available with the Publications Department on the Ground Floor of the Exchange premises or can be downloaded from the website of the Exchange at www.bseindia.com
   
   
3. The Membership Rights will be offered to those applicants whose offers are the highest, and who are found to be eligible to become members as per the applicable Rules, Bye-laws and Regulations of BSE. Interested applicants are requested to note that the eligibility criteria for membership of BSE includes, amongst others, the following terms:
   
   
   • An individual or a corporate entity who/which is admitted as a Member of BSE cannot carry on any business, other than that of Securities (or as may be provided in the Rules, Bye-laws and Regulations of BSE).
     
     
   • The prescribed minimum networth criteria at the time of application, for an Individual is Rs. 30 lakhs and for a Corporate entity is Rs. 50 lakhs and this networth should be maintained at all times.
   
   
   
4. The application made in the prescribed form, and complete in all respect, should be accompanied by a Demand Draft/Pay Order for Rs. 5 lakhs (Rupees Five Lakhs Only) drawn in favour of "BSE", payable at Mumbai towards interest free Earnest Money Deposit.
   
   
5. The Earnest Money Deposit of Rs. 5 lakhs (Rupees Five Lakhs only) will be refunded without interest to the unsuccessful applicants.
   
   
6. Offers can be made by Individuals or Corporates only who are eligible to become members as per the applicable Rules, Bye-laws and Regulations of BSE.
   
   
7. The applicants whose offers are accepted by the Governing Board will be required to make the full payment of the balance amount of the offer and submit all the prescribed documents duly completed, within 3 (three) days from the date of receipt of acceptance of the offer.
   
   
8. The Governing Board of BSE, at its sole discretion, may forfeit the Earnest Money Deposit of Rs. 5 lakhs (Rupees Five Lakhs), if the successful applicant fails to pay the remaining amount of the offer along with the prescribed documents within the stipulated time period.
   
   
9. The Governing Board of BSE reserves the right to reject any offer without assigning any reason whatsoever.
   
   
10. The decision of BSE shall be final and binding in all respect.
    
    

For any further information/clarification, applicants are requested to contact the following officials in Member Services & Development Department: