GESHIPPING

Members of the Exchange are hereby informed that the trading in equity shares of Great Eastern Shipping Co. Ltd. shall be suspended w.e.f. November 08, 2006 (i.e. closing hours of trading on November 07, 2006) on account of Scheme of Arrangement involving demerger of the offshore services business of the Company into Great Offshore Limited.

News Verification : The media had reports that Great Eastern Shipping Co. Ltd. is likely to go in for buyback of shares. The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company. Great Eastern Shipping Co. Ltd. has vide its letter inter-alia stated, "We would like to inform you that as of date the Board of Directors of the Company have not considered any buyback proposal."

Great Eastern Shipping Co. Ltd. has informed the Exchange that the article appearing in "Economic Times" on August 02, 2006 under the heading "Demerger on track, says GE Shipping". Amongst other things the article quotes Mr. Rajat Dutta, spokesperson of GE Shipping having stated that the Bombay High Court approved demerger deadline would expire only by end of the first week of August, and not Wednesday(August 02, 2006). The statement so quoted in the article is not the correct position and for the sake of clarity, the company states that the deadline stipulated under the Scheme of Demerger app

Great Eastern Shipping Co. Ltd. has informed the Exchange that regarding an article carried in the "Economic Times" of March 14, 2006, extract enclosed, which indicates that the Record Date may be announced next week. In this connection the Company has clarified that, as contemplated in the Scheme, the Company is still in the process of obtaining approvals for transfer of material contracts in favour of Great Offshore Limited and at this moment the Company is unable to indicate the time when it would be in a position to announce the Effective and Record Date for the demerger of the Offshore Se