BSE Denies press allegations against Mr. Gerela

This release is with regard to wrong news reports published in some sections of the press about Mr. S.T.Gerela. We would like to state the following facts.

1. Mr. S.T.Gerala is not the Surveillance Chief of the Stock Exchange, Mumbai. He is desinated as CEO-clearing and settlement. Mr. Gerala was looking after the Surveillance department earlier and handed over the charge to Mr. P.S.Reddy over a year back.
2. Mr. S.T.Gerala did not have any conversation whether in person or over the phone with Mr. Anand Rathi, President - The Stock Exchange, Mumbai on Friday March 2, 2001.
3. Mr. P.S.Reddy, General Manger - Surveillance also did not have any conversation with Mr. Anand Rathi - President of the Stock Exchange Mumbai, on Friday - March 2, 2001.

In light of the factual discrepancies in the above mentioned reports, and the damage caused to the reputation of the senior officers and the exchange, we request you to desist from making such irresponsible statements or allegations.

Furthermore we would request you to confirm any such rumours with us in the future and we would be glad to provide you with factual information.

Dr. Manoj Vaish
Dy. Executive Director

March 8, 2001