The Stock Exchange, Mumbai (BSE) is pleased to announce that in its Annual General Meeting held on 27th September, 2002 Shri Kamal Kabra has been appointed as a Trustee of the Exchange in the vacancy created by the sad demise of Late Shri Mathradas Kothari and Shri Padmakant Devidas Shah has been appointed as a Trustee in the vacancy created by the resignation of Shri Ramdas Lallubhai.

Shri Kamal Kabra was President of BSE during the year 1995-96. During his tenure he was an effective adminstrator and facilitated several positive changes at the Exchange. He was also a Member of the Governing Board from 1990-91 to 1995-96.

Shri Padmakant Devidas Shah was a Member of the Governing Board from 1991-92 to 1993-94 and from 1996-97 to 1998-99.

Both, Shri Kamal Kabra and Shri Padmakant Devidas Shah have wide experience in all aspects of the Capital Market.

With the above two appointments, the trustees of BSE are as follows:

Shri Kisan Ratilal Choksey
Shri Priyakant Dalal
Shri Vallabh Bhansali
Shri Kamal Kabra
Shri Padmakant Devidas Shah

September 28, 2002