Piramal Life Sciences Limited, is an independent research driven drug
 Company that was recently demerged from Piramal Healthcare Limited
 (Formerly know as Nicholas Piramal India Limited). PLSL was formerly
 the NCE R&D division of NPIL. PLSL has state-of-the-art R&D
 laboratories built over 200,000 square-feet of space in Mumbai, India
 and over 300 scientists engaged in drug discovery and development. 
 PLSL is focused on four therapeutic areas.  Cancer, Diabetes,
 Inflammation and Infectious Diseases. The Company has a pipeline of
 fourteen compounds, including four in clinical trials. PLSL's lead
 chemical compound, a Cdk-4 inhibitor, has completed two phase 1
 studies and is being tested in another Phase I/II trials for Multiple
 Myeloma. PLSL has drug discovery and developments agreements with Eli
 Lilly & Company and Merck & Company, two of the leading
 pharmaceuticals companies in the world.
 PLSL is expected to be listed on the National Stock Exchange and the
 Bombay Stock Exchange by June 2008.