ALOKTEXT

Alok Industries Limited has informed the Exchange of the disclosure received from Industrial Development Bank of India Limited informing that they have sold 17,88,283 equity shares amounting to 2.03%* of Alok Industries Ltd. The period of sale is July 20, 2004 to October 28, 2004 and the mode of sale is through open market. The shareholding of Industrial Development Bank of India Limited after the said sale is 34,49,661 equity shares amounting to 3.91% of the paid up capital of Alok Industries Limited. The Company has further informed that the paid up capital as on July 20, 2004 and October 28

Alok Industries Limited has informed the Exchange that Fitch Ratings India Private Limited has vide its letter dated November 01, 2004 assigned an A (ind) ("Single A ind") rating for the proposed issue of Rs.1250 million Secured Redeemable Non Convertible Debentures.

Alok Industries Limited has informed the Exchange that an EGM of the members of the company will be held on November 19, 2004.

Alok Industries Limited has informed the Exchange that at the Board Meeting held on October 21, 2004, the following matters were considered / decided : (i) issue and allotment of 55,73,700 Equity Shares at the rate of Rs.61.00 per share (face value per share Rs.10/- and premium Rs.51/-) aggregating Rs.33,99,95,700.00 on preferential basis to the promoter group (as defined under the SEBI guidelines, rules and regulations) subject to necessary approvals and guidelines/rules/regulations in this regard (including SEBI Guidelines): (ii) issue and allotment of 57,37,700 Equity Shares at the rate of

Alok Industries Limited has informed the Exchange that Fitch Ratings India Private Limited have vide their letter dated October 04, 2004 affirmed the 'F1(ind)' (F one ind) rating for their Rs.400 million commercial paper programme. This rating is valid up to a maximum period of 12 months from the date of their captioned letter. Further, Credit Analysis & Research Limited have also vide their letter dated October 04, 2004 assigned a 'PR 1' [PR One] rating for the Company's proposed issue of Non-Convertible Debentures of Rs.20.00 crore. The said rating is also valid for a period of one year.

Clarification of News : The press had reports that Alok Industries Limited is making a preferential allotment of around 59 lakh warrants to TAD (Mauritius). The Exchange, in order to verify the accuracy or otherwise of the information reported in the press and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company. Alok Industries Limited has vide its letter inter-alia stated, "In this regard we have to state that the company is proposing to issue: (i) 35,58,172 - Equity Shares of Rs. 10/- each to Promoters and M/s. Khandel