ESSARSHIP

Essar Shipping Ports & Logistics Limited has informed the Exchange that as the conditions stipulated under clause 79 of the Scheme of Arrangement being the amalgamation of Essar Ports & Terminals Limited (EPTL) and Essar International Limited (EIL) with the Company and the subsequent demerger of the Shipping & Logistics and Oilfields Drilling Business (Demerged Undertakings) into Essar Shipping Limited (the Resulting Company) to make the Scheme effective having being complied with, the Committee of Directors (Demerger Committee) (the Committee) at their meeting held May 09, 2011 fixed the effe

Essar Shipping Ports & Logistics Limited has informed the Exchange that the Hon'ble High Court of Gujarat at Ahmedabad has on March 1, 2011 approved the Composite Scheme of Arrangement which provides for the Merger of Essar Ports & Terminals Limited and Essar International Limited and Demerger of the Shipping & Logistics and Oilfields Drilling Business into a separate Company viz., Essar Shipping Limited.

Essar Shipping Ports & Logistics Limited has informed the Exchange that upon the demerger, a reduction and restructuring of the paid up share capital of Essar Shipping Ports and Logistics Limited (ESPLL) is also contemplated under the scheme of arrangement, pursuant to which the paid up share capital of ESPLL shall be reduced and thereafter its shares shall be consolidated such that 3 equity shares of ESPLL of face value Rs.10/- each shall be consolidated into 2 equity shares of face value Rs.10/- each.

Essar Shipping Ports & Logistics Limited has informed the Exchange that the meeting of the Board of Directors of Essar Shipping Ports & Logistics Limited (the "Company") was held on August 12, 2010, at which time the proposal for: (a) The demerger of the shipping, logistics and oilfields services businesses of the Company to Essar Ports & Terminals Limited (currently a wholly owned subsidiary of the company) ("EPTL"); and (b) The amalgamation of two of the Company's existing wholly owned subsidiaries, Essar Ports & Terminals Limited, Mauritius and Essar International Limited, Guernsey with the

Essar Shipping Ltd. has informed the Exchange that: "The Honourable High Court of Gujarat has sanctioned the Scheme of Arrangement between India Shipping, Essar Sisco Ship Management Co. Ltd. with Essar Shipping Ports & Logistics Limited. A copy of the formal order is awaited".