Members of the Exchange are hereby informed that SEBI vide Press Release No.303/2003 dated December 15, 2003, informed that revised Clause 49 of the Listing Agreement (amended vide SEBI circular dated August 26, 2003) is being revisited by SEBI. Hence, implementation of the same by listed companies is deferred till further notice from SEBI. A copy of SEBI Press Release is enclosed.

February 3, 2004