MAHINDUGIN

Mahindra Ugine Steel Co. Ltd has informed the Exchange that Mr. M K Garg, Nominee Director of General Insurance Corporation of India has resigned w.e.f. January 17, 2005.

Mahindra Ugine Steel Co. Ltd has informed the Exchange regarding the change in shareholding of Mr. Hemant Luthra as Director of the Company. The details are as follows: Mr. Hemant Luthra has bought 6500 shares of the Company. The date of acquisition is November 29, 2004 and the mode of acquisition is through Market Purchase. The shareholding of Mr. Hemant Luthra after the said acquisition is 39800 shares amounting to 0.13% of shares of the company.

Mahindra Ugine Steel Co. Ltd has informed the Exchange that the Equity Shares of the Company have been delisted from the Stock Exchange,Ahmedabad w.e.f October 15,2004 vide their letter dated September 20,2004 and from Madras Stock Exchange Limited w.e.f October 19,2004 vide their letter dated October 19,2004.

Mahindra Ugine Steel Co. Ltd has informed the Exchange regarding the change in shareholding of Mr. Hemant Luthra as Director of the Company. The details are as follows: Mr. Hemant Luthra has bought 14200 shares of the Company. The date of acquisition is November 01, 2004 and the mode of acquisition is through Market Purchase. The shareholding of Mr. Hemant Luthra after the said acquisition is 33300 (0.11%) shares.

Mahindra Ugine Steel Co. Ltd has informed the Exchange of the change in shareholding of Mr. Hemant Luthra as Director of the Company. The details are as follows : Mr. Hemant Luthra has acquired 6000 shares of the Company. The date of acquisition is September 28, 2004 and the mode of acquisition is through Market Purchase. The shareholding of Mr. Hemant Luthra after the said acquisition is 19100 (0.06%) shares of Mahindra Ugine Steel Co. Ltd.