Ref No CRD/GEN/2003/3
October 22, 2003

To,

The Company Secretary/Compliance Officer,
All Listed Companies

Dear Sir/Madam

Sub: Listing of further issue of capital

SEBI vide their circular No MRD/Policy/Cir-35/2003/29/09 dated September 29, 2003 has amended the clause 24(a) of the Listing Agreement, relating to 'in-principle' approval to be obtained by listed companies.

The amended clause 24(a) would read as follows:

"The company agrees to obtain 'in-principle' approval for listing from the exchanges having nationwide trading terminals where it is listed, before issuing further shares or securities. Where the company is not listed on any exchange having nationwide trading terminals, it agrees to obtain such 'in-principle' approval from all the exchanges in which it is listed before issuing further shares or securities. The company agrees to make an application to the Exchange for the listing of any new issue of shares or securities and of the provisional documents relating thereto."

This shall come into force with immediate effect. All listed Companies are requested to comply with the same.

Yours faithfully

Sanjay Golecha
General Manger
Department of Corporate Services