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PRESS RELEASE
 
  In order to strengthen the board and within the ceiling permitted by the central government, the board of directors of the company at its meeting held on 9 September 2006 has inducted two Additional Directors on the board.  
     
  The two directors inducted are as follows :  
     
a)  Shri P Murari, age 72 years, IAS (Retd) and currently Adviser to President, FICCI. He has held many senior positions in the Government of India and Government of Tamil Nadu, including as Secretary to the President of India; and.  
     
b)  Shri Niraj Bajaj, age 52, B Com from Sydenham College of Commerce & Economics, Mumbai and Masters in Business Administration from Harvard Business School, Boston, USA. and currently the Managing Director of Mukand Limited.  
     
  With the above, the strength of the board has gone up from fourteen to sixteen.  
     
     
 
( J SRIDHAR )
COMPANY SECRETARY

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