1. The above statement of financial results was reviewed by the Audit Committee and having been recommended for approval, was approved by the Board of Directors of the Company at their meeting held on February 18, 2009.

2. The Board of Directors, at their meeting held on January 12, 2008 pursuant to the scheme arrangement sanctioned by the Honorable High Court of Karnataka on July 07, 2007 and subsequent approval accorded by the Reserve Bank of India on December 11, 2007, allotted 8% secured fully paid-up redeemable non-convertible bonus debentures from the general reserve, in the ratio of one debentures of the face value of Rs 25 each for every equity share held by the shareholders of the Company as on January 11, 2008. The bonus debentures have been listed on the Bangalore Stock Exchange Ltd, Bombay Stock Exchange Ltd and National Stock Exchange of India Ltd. The bonus debentures will be redeemed on January 11, 2009.

3. The Board of Directors at their meeting held on February 18, 2009 have recommended Rs 15 (Previous year Rs 15 ) as dividend per equity share of Rs 2 each for the year ended December 31, 2008.

4. Previous period figures have been regrouped /reclassified wherever necessary to conform to the current periods presentation.

Anandh Balasundaram
Managing Director