MANALIPET

Members of the Exchange are hereby informed that the trading in equity shares of Manali Petrochemicals Ltd. shall be suspended w.e.f. September 28, 2006 (i.e. closing hours of trading on September 27, 2006) on account of Reduction of Share Capital and Consolidation / Re-organisation of share capital.

Manali Petrochemicals Ltd has informed the Exchange the following :- (1) The Hon'ble High Court of Madras vide its orders dated March 15, 2006 approved the reduction of face value of the paid-up share capital from Rs. 10/- to Rs.7.50 per share. Accordingly the paid-up capital has been reduced with the face value of Rs. 7.50 per share for financial year ended March 31, 2006. (2) The shareholders, at the AGM held on August 19, 2006, passed a resolution under Sec. 94 and other applicable provisions of the Companies Act, 1956, to consolidate two shares of Rs. 7.50 per share into three shares of Rs

Manali Petrochemicals Ltd had informed the Exchange regarding the Book Closure from August 10, 2006 to August 19, 2006 (both days inclusive) for the purpose of Annual General Meeting to be held on August 19, 2006. The company has now further informed that the above dates are for the purpose of AGM as well as Dividend.

Manali Petrochemicals Ltd has informed the Exchange that the Company has announced Book Closure from August 10, 2006 to August 19, 2006 (both days inclusive) for the purpose of Annual General Meeting to be held on August 19, 2006.

Manali Petrochemicals Ltd has informed the Exchange that the Hon'ble High Court of Madras by its order dated March 15, 2006 confirmed the reduction of Equity share capital of the Company as resolved by the shareholders at the EGM held on October 19, 2005.Accordingly the paid up equity capital of the Company shall be reduced from Rs.1,146,661,530 divided into 114,666,153 Equity shares of Rs.10/- each fully paid up to Rs.8,59,996,147.50 divided into 114,666,153 Equity Shares of Rs.7.50 each by reducing nominal value of all the equity shares in the Company's issued capital from Rs.10/- per share

Manali Petrochemicals Ltd has informed the Exchange that the BoDs at its meeting held on April 25, 2006, decided to recommend Rs.0.75 per share as dividend for the financial year 2005-06 from out of the profits earned during the year.

Manali Petrochemicals Ltd has informed the Exchange that the Board of the company in its Meeting held on September 09, 2005 decided to seek the approval of the Shareholders and thereafter the approval of the High Court of Madras for the proposal on Reduction of Share Capital under Sec. 100 and Sec. 78 of the Companies Act, 1956. By this proposal of Share Capital Reduction, the accumulated losses of Rs. 3532.62 lakhs, will be set off completely by 25% reduction of the paid up value of the share capital, to the extent of Rs. 2866.65 lakhs under Section 100 of the Companies Act, 1956 together wit