Notice ( Thursday, November 30, 2006 )

Re: Resignation of Managing Director and Appointment of ‘Manager’.

At the meeting of the Board of Directors of the Company held today, the following resolutions were passed:

1. Mr.Felipe Osorio will be relieved from the post of Managing Director & Director of the Board of the Company w.e.f. 1st December, 2006.

2. Appointment of Mr.S.Rajagopalan, Chief Financial Officer as ‘Manager’ of the Company under Section 269 of the Companies Act, 1956 w.e.f. 1st December, 2006.