Closure of Buy-Back

Announcement of closing the scheme for buy-back of equity shares.

The Company has completed total Buy-back of 2,28,83,204 equity shares of Re. 1/- each, till Wednesday, 23rd March, 2011 amounting to Rs. 625,29,68,086/- being approximately 99.25% of the total Buy-back Offer of Rs. 630 crores. The number of shares bought back is in excess of the requisite minimum Buy-back of 56,25,000 Equity Shares as stated in the Public Announcement dated 11th August, 2010.

Further, the Buy-Back Committee of the Board has, at its meeting held on today, decided to close the scheme for Buy-back of Equity Shares from open market route through stock exchange with effect from 28th March, 2011 (hereinafter referred to as the Last Date for the Buy-back). All payment obligations relating to the Buy-back offer shall be completed before the Last Date for the Buy-back.

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