200909 - Quarter 2

Status of Investor Complaints for the quarter ended September 30,
2009

Complaints Pending at the beginning of the quarter Nil

Complaints Received during the quarter Nil

Complaints disposed off during the quarter Nil

Complaints unresolved at the end of the quarter Nil

1. The financial results of the Company for the quarter ended
September 30, 2009 have been reviewed
by the audit committee, approved by the Board of Directors at the
meeting held on October 22, 2009
and have been subject to limited review by the Statutory auditors of
the Company. The above
financials pertain to Reliance Mediaworks Ltd (formerly known as
Adlabs Films Ltd) as a standalone
entity.

2. a) The Honorable High Court of Judicature at Bombay has sanctioned
a scheme for de-merger of the
Radio Division of the Company to Reliance Media World Ltd (formerly
known as Reliance Unicom
Limited) with effect from April 01, 2008. The Honorable High Court of
Judicature at Bombay has also
sanctioned a scheme of amalgamation of wholly owned subsidiaries of
the Company with itself with
effect from April 01, 2008. The results of the comparative quarter do
not consider the effect of
the demerger of the Radio Division and the merger of wholly owned
subsidiaries with the Company.

b) During the quarter ended September 30, 2008, the Company had
changed the method of depreciation
from the written down value method to the straight line method at the
rates prescribed under
Schedule XIV of the Companies Act for assets of the Film Production
services division. Consequent
to the change the Company had accounted for a depreciation credit of
Rs. 627.45 lakhs pertaining to
earlier years during the said quarter.

c) The Company has not regrouped figures for the previous period /
year. The results for the
quarter / half year ended September 30, 2009 are strictly not
comparable with the results of the
quarter ended September 30, 2008

3. The Company has opted to publish consolidated financial results
from the quarter ending June 30,
2008.

4. During the financial period ended March 31, 2008, the Company
re-classified the liability
towards Foreign Currency Convertible Bonds (´FCCB´) as non-monetary
liability inter-alia on the
basis of the trend of earnings, movement of the Company´s share
prices and conversion option
exercised by the FCCB holders. The Company continues to classify the
liability towards FCCB as a
non-monetary liability as in its view the current fall in the market
price of the Company´s share
price and non-conversion by bond holders is a temporary aberration.
Consequently, the foreign
exchange fluctuation loss for the six months ended September 30, 2009
aggregating to Rs. 336.65
lakhs (2009: Rs. 819.80 lakhs) and Rs. 453.95 (2009: Rs. 133.70
lakhs) for quarter ended September
30, 2009 has not been recognised by management. Cumulative loss not
recognized due to
classification of FCCB as a non-monetary liability is Rs. 3,326.01
lacs in respect of outstanding
FCCB´s. Unrecognized losses on FCCB´s which were converted into
equity shares in earlier periods is
Rs. 2,199.50 lacs.

5. On October 05, 2009, the Company has received a fresh certificate
of incorporation from the
Registrar of Companies changing the name of the Company from Adlabs
Films Ltd to Reliance
MediaWorks Ltd.