YEAR                                                           
 EVENTS
 1928 - The company was incorporated at Calcutta.  The Company runs   
     
               regular express cargo services on the India-U.K.
 India-South
               America, India-Poland and India-USSR Routes.  The
 Company also
               runs services on the Indian Coast.
 
            - Pref. shares redeemable at the option of the Company
 wholly or
              in part at 3 months' notice at a premium of Rs 10 per
 share.
 
 1945 - 7,50,000 Right Equity shares offered at par in the prop. 3:2.
 
 1946 - 9,99,693 Right Equity shares issued (prem. Rs 2.50 per share;
 
              prop. 78:100).
 
 1958 - 2,25,000 Bonus Equity shares issued in prop. 1:1.
 
 1972 - One more ship-Ratna Shobhana was scrapped The Company's
 general
              agents in the U.K., viz. M/s. Stelp & Leighton were
 replaced by
              M/s. R.G. Shaw Shipping Ltd., with effect from 1st
 July.
 
 1974 - 24,75,000 Bonus Equity shares were issued in the prop. 1:1.
 
 1988 - The Company witnessed a turn-around in its operations and
 working
              results.
 
            - The Company registered profits after a gap of seven
 years mainly
              due to intensification of operational activities in high
 yielding
              areas, rationalization of voyages and stricter control
 over 
              operating costs.
 
            - The Company put m.v. Indian Courier on time charter.
               Government of India's approval was received for
 acquisition of
               modern second hand vessels to revamp its fleet.
 
 1989 - The Ratnakar Shipping Company Ltd. amalgamated with the
 company
               with effect from 1st April.
 
            - Pursuant to the scheme of Amalgamation, the equity
 shareholders
              of RSCL were issued 20,20,136 No. of equity shares of
 the Company
              at par.
 
            - 49,50,000 Rights Equity shares issued at par in prop.
 1:1 in
              Sept. 1989.  2,47,500 No. of equity shares offered at
 par to
              employees etc. but only 5,347 shares taken up. 
 20,20,136 No. of
              equity shares allotted without payment in cash to
 members of
              Ratnakar Shipping Co. Ltd. its merger.
 
 1990 - The operations resulted in a loss because of escalation of
 bunker
              prices arising from the Gulf war, increase in the wage
 bill of
              officers and seamen and depressed bulk dry cargo
 market.
 
           - Allotted 66,04,768 Right equity shares (prop. 3:5) and
 2601
             equity to employees both at par.  Allotment of 250 Right
 equity
             shares to NRIs was pending.
 
 1991 - Four vessels Indian Fame. Indian Fraternity, Indian Fortune
             and Indian Venture were disposed of.
  
           - 250 Right Equity shares allotted to NRI's.
 
 1993 - During the year liner operation was suspended due to change
 in
              government policies and fraction following the
 liberalisation of
              economy.
 
 2000 - The Board has decided to issue 2,90,00,000 shares of Rs 10/-
 each
              on a preferential basis to Zuari Investments Ltd. 
 
 2002-India Steamship Company Ltd has informed  that Mr Kamal Kumar
 Palit has been appointed as additional Director on the Board of
 Directors and subject to the approval of the members of the company,
 also as a whole time Director designated as Executive director.