Circular No. MRD/DoP/SE/Dep/Cir- 14 /2007 dated the December 20, 2007, issued by SEBI in respect of Short selling and securities lending and borrowing is attached herewith alongwith the enclosures. The contents of the circular are self-explanatory. The detailed modalities for the same will be intimated in due course.

(Ashit R. Raja)

Dy. General Manager – Clearing & Settlement

December 24, 2007