MERCATOR

Mercator Lines Limited has submitted to the Exchange a copy of the minutes of EGM of the members of the Company held on January 17, 2006. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/CorporateAnnouncements).

Mercator Lines Limited has informed the Exchange that :- (1) Mr.Anil Khanna, Director, has sold 1000 shares on January 30, 2006 and 1500 shares on January 31, 2006 of Mercator Lines Limited. The mode of sale is Market Sale and the shareholding of Mr.Anil Khanna after the said sale is 97540 shares of Mercator Lines Limited. (2) Mr.Anil Khanna, (HUF), has sold 1000 shares of Mercator Lines Limited on January 30, 2006. The mode of sale is Market Sale and the shareholding of Mr.Anil Khanna (HUF) after the said sale is 10868 shares of Mercator Lines Limited.

Mercator Lines Limited has informed the Exchange that the Committee of BODs of the Company in its meeting held on February 01, 2006; have approved allotment of 32,00,000 warrants to the Promoters' Group Company on preferential basis having face value of Rs.13.75 per warrant i.e. 10% of Rs.137.50 being price at which shares will be allotted on exercise of option. Such shares are eligible for bonus shares in the ratio of 3 new shares for every 2 shares as approved by the shareholders in their EOGM held on January 17, 2006; and the same will be kept in abeyance till the option attached to the war

Mercator Lines Limited has informed the Exchange that the Committee of BODs of the Company in its meeting held on January 27, 2006; inter alia, have approved issue of 32,00,000 warrants to the Promoters' Group Company viz. AHM Investments Private Limited on preferential basis; having face value of Rs.13.75 per warrant i.e. 10% of Rs.137.50 being price at which shares will be allotted on exercise of option. Such shares are eligible for bonus shares in the ratio of 3 new shares for every 2 shares as approved by the shareholders in their EOGM held on January 17, 2006; and the same will be kept in

Mercator Lines Limited has informed the Exchange regarding a press release dated, January 28, 2006, titled, "Mercator Lines posts Excellent Results for Q3 Ended December 2005." The details of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).

Mercator Lines Limited has informed the Exchange that the shareholders of the Company, in their EGM held on January 17, 2006, have passed resolutions on following matters: (1) Increase in Authorised Equity Share Capital of the Company from Rs. 25 crores to Rs. 35 crores by creating additional 10,00,00,000 Equity Shares of Re. 1/- each. (2) Issue of Bonus Shares in the proportion of 3 new equity shares for every 2 existing equity shares of the Company. (3) Issue of maximum of 80,00,000 warrants carrying entitlement / option to apply for equal number of equity shares, on preferential basis to th

Mercator Lines Limited has informed the Exchange that the Company has fixed February 03, 2006 as the Record Date for the purpose of deciding entitlement for eligibility for issue of bonus shares in the proportion of three new such shares for every two shares held as approved by the shareholders at their meeting held on January 17, 2006

Mercator Lines Limited has submitted to the Exchange a copy of Code of Business Conduct and Ethics for members of the Board and Senior Management Personnel of the Company adopted by the Company. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/CorporateAnnouncements).

Mercator Lines Limited has submitted to the Exchange a copy of the Notice of EGM of the Company to be held on January 17, 2006. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/CorporateAnnouncements).

Mercator Lines Limited has informed the Exchange that the BODs of the company,in its meeting held on December 20,2005 has interalia,approved the following matters: 1)Issue of bonus shares in the proportion of 3 new equity shares for every 2 existing equity shares of the company.2)Issue of securities by public/private offering in the domestic and/or international markets, in the form of ADR/GDRs/Bond/Equity Shares or in any other form for an aggregate amount not exceeding USD 75 millions or equivalent amount in any currency.3)Issue of 80,00,000 warrants carrying entitlement/option to apply for

Clarification of News : The media had reports that Mercator Lines Limited may announce a bonus issue. 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. Mercator Lines Limited has vide its letter inter-alia stated, "We would like to inform you that a meeting of the Board of Directors of the Company has been convened on December 20, 2005, interalia, to consider the issue of Bonus shares".

Mercator Lines Limited has informed the Exchange that: (1) Mr. H.K. Mittal,promoter of the company has acquired 22,50,000 shares aggregating to 2.97% of the share capital of Mercator Lines Limited on December 07, 2005. The mode of acquisition is Preferential Allotment(in lieu of exercise of options/entitlements attached to the warrants alloted on preferential basis) and the shareholding of Mr. H.K. Mittal after the said acquisition is 1,92,61,680 shares aggregating to 25.45% of the share capital of Mercator Lines Limited. (2) Mr. Atul J. Agarwal,promoter of the company has acquired 7,50,000 sh

Atul J. Agarwal has informed the Exchange that: (1) Mr. Atul J. Agarwal, has acquired 7,50,000 shares aggregating to 0.99% of the share capital of Mercator Lines Limited on December 07, 2005. The mode of acquisition is Preferential Allotment(in lieu of exercise of options/entitlements attached to the warrants allotted on preferential basis) and the shareholding of Mr. Atul J. Agarwal after the said acquisition is 21,52,150 shares aggregating to 2.84% of the share capital of Mercator Lines Limited. (2) Mr. Harish Kumar Mittal, (PAC) has acquired 22,50,000 shares aggregating to 2.97% of the shar

H.K. Mittal (Chairman & Managing Director) has informed the Exchange that he along with Atul J. Agarwal [PAC] has acquired shares of Mercator Lines Limited on December 07, 2005 as follows: (1) Harish Kumar Mittal - 22,50,000 shares (2.97%) and (2) Atul J. Agarwal - 7,50,000 shares (0.99%). The mode of acquisition is Preferential Allotment (in lieu of exercise of options/entitlements attached to the warrants allotted on preferential basis) and the shareholding of H.K. Mittal alongwith PAC Atul J. Agarwal after the said acquisition is as follows: (1) H.K. Mittal holds - 1,92,61,680 shares (25.45

Mercator Lines Limited has informed the Exchange that the Committee of the BODs of the Company in its meeting held on December 07, 2005, approved allotment of 30,00,000 equity shares of Re. 1/- each for cash at a price of Rs.56/- per share (inclusive of premium of Rs. 55/- per share) to the promoters in lieu of conversion of warrants allotted to them in accordance with special resolution passed by the shareholders of the Company in their EGM held on November 10, 2004 and SEBI Guidelines on Preferential issues. With this, the issued subscribed and paid up equity share capital of the Company sta

Mercator Lines Limited has informed the Exchange that pursuant to Resignation received from Mr. Shalabh Mittal, he ceased to be Whole Time Director of the Company. However, he continues to be the Director of the Company.

Mercator Lines Limited has informed the Exchange that the Company's Chairman and Managing Director Mr.H.K. Mittal has been honored with "Entrepreneur of Year 2005 Award" in the Service Category by Ernst & Young Pvt. Ltd..

Mercator Lines Limited has informed the Exchange regarding a Press Release titled "Mercator Lines Posts Excellent Results for Half-Year Ended September 2005". The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/CorporateAnnouncements).

Mercator Lines Limited has informed the Exchange that the BODs of the Company in their meeting held on October 26, 2005, have approved payment of Interim Dividend @ 150% i.e. Rs.1.50 per share on equity shares of Re.1/- each for the FY ending on March 31, 2006. Further, the Company has fixed November 11, 2005 as the Record Date for the purpose of deciding entitlement for payment of the said interim dividend.

Clarification of News : The press had reports that Mercator Lines Limited is close to finalising the acquisition of a foreign shipping firm. The Exchange, in order to verify the accuracy or otherwise of the information reported in the press and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company. Mercator Lines Limited has vide its letter inter-alia stated, "The Company would like to clarify that although Company is exploring various avenues of expanding its operations, currently there is no definite proposal actively und

Mercator Lines Limited has submitted to the Exchange a copy of the Minutes of the AGM of the Company held on September 28, 2005. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/CorporateAnnouncements).

Mercator Lines Limited has informed the Exchange that at the AGM of the members of the Company held on September 28, 2005, following matters have been approved unanimously :- 1) Payment of Dividend on Preference Share Capital. 2) Payment of Interim Dividend declared by the Board @ 100% on January 12, 2005 and Final Dividend @ 100% on Equity Share Capital. 3) Re-appointment of Mr. Anil Khanna as Director of the Company liable to retire by rotation. 4) Appointment of M/s. Contractor, Nayak & Kishnadwala, Chartered Accountants as Auditors of the Company, in place of retiring Auditors M/s. Poneet

Mercator Lines Limited has informed the Exchange that M/s Contractor, Nayak & Kishnadwala, Chartered Accountants, Statutory Auditors of the Company hold Nil shares as on date of assuming office, i.e. September 28, 2005.

Mercator Lines Limited has informed the Exchange that the Company has taken delivery of one second hand panamax bulk carrier of 69,286 DWT. With this, the number of fleet owned by the Company has increased to 13 vessels having total tonnage capacity of 13,38,621 DWT.

Mercator Lines Limited has informed the Exchange that the Company has floated a wholly owned subsidiary registered under the laws of Singapore.

Mercator Lines Limited has informed the Exchange that the Company has been awarded a contract through its subsidiary for transportation of Coal over a period of one year. The total value of the contract is estimated at Rs.1200 millions.

Mercator Lines Limited has informed the Exchange that The Indiaman Fund (Mauritius) Limited has sold 1,500,000 shares aggregating to 2.06% of the share capital of Mercator Lines Limited on September 01, 2005. The mode of sale is through Market sale and the shareholding of The Indiaman Fund (Mauritius) Limited after the said sale is 3,345,000 shares aggregating to 4.6% of the share capital of Mercator Lines Limited.

Mercator Lines Limited has informed the Exchange that the Company has announced book closure from September 20, 2005 to September 28, 2005 for the purpose Annual Closure and for deciding entitlement for payment of Final Dividend @100% on paid-up capital for the FY ended March 31, 2005 recommended at the Board Meeting held on May 24, 2005.

Mercator Lines Limited has informed the Exchange that the Company has taken delivery of one new built Handymax bulk carrier of 56,023 DWT. With this, the number of fleet owned by the Company has increased to 12 vessels having total tonnage capacity of 12,69,335 DWT. The Company has now one pending delivery of second hand panamax bulk carrier of about 69,000 DWT.

Mercator Lines Limited has informed the Exchange regarding a Press Release titled "Mercator Lines Posts Excellent Results for Quarter Ended June 2005 (Q1) ". The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/CorporateAnnouncements).

Mercator Lines Limited has informed the Exchange of the details of the shareholding of the following two officers of the Company: (1) Mrs. Shruti Mittal (Officer/Relative of Director) who has assumed office on August 01, 2005, holds Nil shares of the Company; (2) Capt. Kowshik Kuchroo (Officer), who has assumed office on July 29, 2005, holds Nil shares of the Company.

Mercator Lines Limited has informed the Exchange that Mr. Shalabh Mittal has been appointed as Whole Time Director of the Company for a period of 3 years w.e.f. August 01, 2005.

Mercator Lines Limited has informed the Exchange that The Indiaman Fund (Mauritius) Limited has sold 60,000 shares of Mercator Lines Limited on July 06, 2005. The mode of sale is through market sale and the shareholding of The Indiaman Fund (Mauritius) Limited after the said sale is 4845000 shares aggregating to 6.66% of the share capital of Mercator Lines Limited.

Mercator Lines Limited has informed the Exchange that the Company has formed a wholly owned subsidiary by name "Mercator Lines (Panama) Inc" registered under the laws of Republic of Panama.

Mercator Lines Limited has informed the Exchange that the Company has signed MOA for rights of operating on Charter 9 nos. Geared Panamax vessels of Total 644069 DWT (Carrying Capacity) for various periods, out of which Company has the option of purchasing some of these vessels in future. All the 9 vessels are Geared and fitted with Grabs. With this, the Company will have control over 10 such vessels, which is about 22% of the total world fleet of these types of vessels. With this, the Company will enter the Dry Bulk Segment and control the largest Tonnage in India in Private Sector in this Se

Mercator Lines Limited has informed the Exchange that the Company had received a Disclosure from its promoter Mr. H.K. Mittal informing that he has promoted a Company by name AHM Investments Pvt. Ltd. on May 31, 2005 and the same is to be treated as person acting in concert with him.AHM Investments Pvt.Ltd. holds NIL shares of the company as on June 27,2005. The Company has further infomed that Mr. T.V. Shambhag - Officer holds Nil shares of Mercator Lines Limited on May 24, 2005 i.e date of assuming office of Officer.

Mercator Lines Limited has informed the Exchange that the Company has received Disclosure from its promoters Mr. H.K. Mittal, informing that he has promoted a Company by name Ivory Shipping Ltd. on June 16, 2005 and the same is to be treated as person acting in concert with him. The Company has further informed that the Ivroy Shipping Ltd. does not hold any shares of Mercator Lines Ltd. on June 27, 2005.

Mercator Lines Limited has informed the Exchange that Credit Analysis & Research Ltd., (CARE) have reaffirmed "CARE AA" (Double A) rating to all the existing Secured Redeemable Non-convertible Debentures (NCDs) and Preference shares issued by the Company as well as granted "CARE AA" rating to its proposed issue of further NCDs. CARE has also granted PR1+ (PR One Plus) rating to the proposed issue of short term NCDs for a maturity not exceeding one year.