IFGLREFRAC

Ifgl Refractories Ltd has informed the Exchange that " Monocon International Refractories Limited (MIRL), being the step down subsidiary of the Company, has entered into a non-binding Heads of Agreement for acquisition of 100% of the total issued share capital of Trent Refractories Limited of UK subject to such confirmatory reviews MIRL may deem fit, proper and necessary. Trent is engaged in manufacture of Castables, monolithics, pre-cast shapes etc used mainly by the producers of iron and Steel".

Ifgl Refractories Ltd has informed the Exchange that acquisition of business of Monocon International Refractories Ltd and Monocon Overseas Ltd (including its subsidiary companies namely Mono Ceramics Inc, USA, Monocon Taiwan Ltd, Taiwan, Tianjin Meinuo Minerals Company Ltd, China and Monocon Refractories Limitada, Brazil) has been completed through step down subsidiaries of the Company, on September 10, 2005.

Ifgl Refractories Ltd has informed the Exchange that the Company has on August 05, 2005 entered into a Non-binding Heads of Agreement with Monocon Holdings Ltd, UK for acquisition of 100% of the Issued Share Capital of its subsidiaries i.e. Monocon International Refractories Ltd and Monocon Overseas Ltd (including its subsidiary companies namely Mono Ceramics Inc; USA, Monocon Taiwan Ltd; Taiwan, Tianjin Meinuo Minerals Company Limited; China and Monocon Refractarios Limitada; Brazil. Aforesaid proposed acquisition is subject to confirmatory financial and legal due diligence, which is going to