Dated : February 20, 2009 With regard to the queries being received by the Company in respect of its proposed Rights Issue, it is hereby clarified that in view of the global economic meltdown being experienced all over the world, the management is of the opinion that the time, at present, is not conducive for any kind of equity issue by the Company. Hence, the proposal for issue of equity shares on rights basis is, for the time being, kept in abeyance. The same shall be taken up at the opportune time by the management.