Status of Investor Complaints for the quarter ended March 31, 2009

Complaints Pending at the beginning of the quarter Nil

Complaints Received during the quarter 11

Complaints disposed off during the quarter 11

Complaints unresolved at the end of the quarter Nil

1. The Board of Directors has recommended dividend of Rs 5.50 (550%) per equity share of Re 1/- each.

2. Consolidated audited financial results include financial result of Jindal Power Ltd, a subsidiary of the Company, as under:-
Amount ( Rs / Crore)

Net Sales : 3,257.48
Net Profit After Tax : 1,581.93

3. Pursuant to the notification of the Companies (Accounting Standards) Amendment Rules 2006 on March 31, 2009, the following changes in accounting policy / estimate have been made during the year:

i) Exchange differences relating to long-term monetary items, arising during the year, in so far as they relate to the acquisition of a depreciable capital asset are added to / deducted from the cost of the asset and depreciated over the balance life of the asset. Accordingly an amount of Rs 205.03 Crores has been added to the cost of fixed assets, and profit for the year is higher by this amount.

ii) Exchange differences pertaining to previous accounting year which was recognised in the profit & loss account, has now been reversed to the General Reserve, as prescribed in the above notification. Accordingly an amount of Rs 79.97 Crores has been added to the cost of fixed assets and credited to the General Reserve.

4. Other income for the year ended March 31, 2009 include dividend income of Rs 86.70 Crore from Jindal Power Ltd, a subsidiary company.

5. Previous year figures have been regrouped and reclassified to make them comparable.

6. The above audited results were reviewed by the Audit Committee and have been taken on record by the Board of Directors in their meeting held on May 27, 2009.

Naveen Jindal
Exec. Vice Chairman & Managing Director