The Stock Exchange, Mumbai (BSE) is pleased to announce that the Governing Board in its meeting held today, i.e 27th September, 2002 has appointed Justice D. R. Dhanuka (Retd) as the First Non-Executive Chairman. Justice D.R. Dhanuka (Retd) has been a Public Representative Director on the Governing Board of BSE since January 1999.

Justice D. R. Dhanuka (Retd) was designated as Sr. Advocate in the year 1979 by Chief Justice and Judges of Bombay High Court and was a professor of Law in Government Law College, Mumbai in 1960. He was appointed Chairman, Legal Advisory Committee of University of Mumbai by Dr. P.C. Alexander, the then Governor of Maharashtra in his capacity as Chancellor of University.

Justice D. R. Dhanuka (Retd) is a former Judge of the Bombay High Court and also practices in the Supreme Court of India in selected matters.

On 28th February 1997, SEBI appointed Security Laws (Amendments) Committee (also referred to as the Dhanuka Committee) under Chairmanship of Justice Dhanuka (Retd) to examine areas of deficiency in the SEBI Act, 1992, Securities Contracts (Regulation) Act 1956, the Depositories Act 1996 and relevant provisions of Companies Act, 1956 having bearing on Capital Markets and make suitable recommendations to protect interest of Investors. The report made by the Committee was accepted by SEBI and further action in pursuance thereof is pending consideration before the Government of India.

He has addressed several seminars on the subject of 'Security Legislations' and also the National Conference of the Institute of Company Secretaries of India on 'Corporate Governance.'

September 27, 2002