PSL

Psl Limited has informed the Exchange that February 02, 2006 has been fixed as the Record Date for the purpose of payment of Interim Dividend for the financial year 2005-06, if approved by the Board in its meeting to be held on January 25, 2006. Dividend payment date will be from February 07, 2006.

Psl Limited has informed the Exchange that the Company has bagged a Composite Order having an aggregate value of over Rs. 240 Crores from GAIL (India) Limited - a leading public Sector Company of the country. This order granted to the Company against international competitive bidding, is with respect to their "Dahej Uran Pipeline Project". In accordance with the terms of the order, the Company is not only required to manufacture and supply 30" API 5L x 70 Grade pipes of 197 Kms but even provide three Layer external Polyethylene and internal Coating on the Pipes. The entire composite Contract i

Psl Limited has submitted to the Exchange a copy of Notice of an EGM of the Company to be held on January 12, 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).

Psl Limited has informed the Exchange that two more Directors, namely - Mr. Harry Shourie and Mr. Ashok Sharma, have been appointed on the Board of the Company. These Directors will hold office upto the next AGM of the Company. With the inclusion of the aforesaid gentlemen, the Company's Board will now comprise of a total of 11 Directors, including 4 Independent Directors.

Psl Limited has informed the Exchange that at the Board Meeting held on December 15, 2005, the Board has in principle approved raising of additional funds up to value of US Dollar 5 Million to International Finance corporation (IFC) (a world Bank Group from Washington) by Preferential Allotment of 9 Lakh equity shares of the Company at Rs.252/- per share (inclusive of Rs.242/- as share premium) which is in accordance with SEBI guidelines on such allotments. This allotment would be subject to such other necessary approvals, as may be required, including the consent of the Members of the Company

Psl Limited has informed the Exchange that at the EGM of the Company held on November 04, 2005 shareholders has accorded their approval to the proposal of allotment of 20 lakh equity shares at a price of Rs.252/- (including a premium of Rs.242/-) per share as follows:- (1) 10 lakh equity shares to Citigroup Global Markets Mauritius Limited (2) 10 lakh equity shares to Macquarie Bank Limited.

Psl Limited had informed the Exchange that on September 29, 2005 that the Company had emerged as a successful bidder for the Pipe Coating Contract of "Mundhra-Delhi Pipeline Project" of Hindustan Petroleum Corporation Limited (HPCL) worth Rs.72 Crores.In this regard the Company has now informed that the said Contract, valuing approximately Rs. 71 crores, has now been bagged by the Company. As per the Contract, Company is required to carry out three layer Polyethylene coating on bare line pipe as well as the associated work on all the four different parts of the project. Further the Company has

Psl Limited has submitted to the Exchange a copy of Notice of an EGM of the Company scheduled to be held on November 04, 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).

Psl Limited has informed the Exchange that at the meeting held on October 10, 2005,after detailed deliberations on the proposal,the Board has in principle approved raising of additional funds of over Rs.50 crores by preferential allotment of 20 lakh equity shares of the Company as follows: - (1)10 Lakh equity shares to Citigroup Global Markets Mauritius Limited. (2)10 Lakh equity shares to Macquarie Bank Limited in accordance with SEBI Guidelines on such allotments. This allotment would be subject to such other necessary approvals, as may be required, including the consent of the Members of th

Psl Limited has submitted to the Exchange a copy of the proceedings of the AGM of the Company held on September 29, 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/Corporate Announcements).

Psl Limited has informed the Exchange that at the AGM of the Company held on September 29, 2005, apart from transacting the business listed in the Notice, shareholders were also informed that the company has emerged as a successful bidder for the coating contract valuing Rs.72 crores of "MUNDRA-DELHI PIPELINE PROJECT" of Hindustan Petroleum Corporation Limited (HPCL) expected to be awarded to the company shortly. The Company has further informed that if awarded this shall be the second time that company will be associated with HPCL in the current year with the first one being in the month of

Psl Limited has informed the Exchange that the Company has been awarded with a substantial portion of pipeline Coating and related services contract, for an aggregate value of US $55.5 million, for Qatar Govt's Dolphin Pipeline Project. The contract has been awarded by M/s Saipem Limited, who is the EPC Contractor for the said project. The Company proposes to undertake the execution of the project from its kandla facilities, completing the awarded quantities by November/December 2005, since Saipem/Dolphin Energy intends to undertake deep sea pipe laying activities, commencing in the fourth qua

Psl Limited has informed the Exchange that On September 06, 2005 all activities pertaining to FCCB issue up to US$ 40 million were completed in accordance with the agreements to this effect executed by the Company, keeping In view the applicable statutory provisions on the subject.Deutsche Bank was the sole underwriter and book runner to the transaction of the said Bonds, which have a maturity of five years and are convertible at a conversion price of Rs.234.54 per share, which is at a premium of 37% over the closing price of Rs.171.20 on the Bombay Stock Exchange Ltd. on August 12, 2005 when

Psl Limited has informed the Exchange that the BODs of the Company in their Meeting have decided to close the Register of Members and other Transfer Books of the Company will remain closed from September 22, 2005 to September 29, 2005 (both days inclusive) with a view to enable the Company to make to make payments of final dividend @ Rs.2.00 per share which is in addition to Interim Dividend paid @ Rs.2.50 per share in January, 2005, thus making a total Dividend of Rs.4.50 per share for the FY 2004-2005. The Company has Further informed that the AGM has been scheduled to be held on September 2

Psl Limited has informed the Exchange that on August 12, 2005 the company has signed a Subscription Agreement with Deutsche Bank for issuance of Zero Coupon Convertible Bonds 2010 for a total value of US$ 40 Million. The broad features of said Bonds are as under :- 1) Maturity Period :- 5 Years, 2) Conversion Price :- Rs. 234.54 per share, 3) Premium for Conversion :- 37% over the closing price of Rs. 171.20 on the Stock Exchange Mumbai on August 12, 2005., 4) Underwriter & Book Runner :- Deutsche Bank, 5) Co-lead Managers :- Bank of India & Bank of Baroda, 6) Expected to List :- Singapore Exc

Psl Limited had informed the Exchange that on August 12, 2005 the company has signed a Subscription Agreement with Deutsche Bank for issuance of Zero Coupon Convertible Bonds 2010 for a total value of US$ 40 Million. The broad features of said Bonds are as under :- 1) Maturity Period :- 5 Years, 2) Conversion Price :- Rs. 234.54 per share, 3) Premium for Conversion :- 37% over the closing price of Rs. 171.20 on the Stock Exchange Mumbai on August 12, 2005., 4) Underwriter & Book Runner :- Deutsche Bank, 5) Co-lead Managers :- Bank of India & Bank of Baroda, 6) Expected to List :- Singapore Exc

No money, bonds or other consideration is being solicited and, if sent in response to the information contained herein, will not be accepted.

Psl Limited has informed the Exchange that at the EGM of the Company held on July 14, 2005, the Resolutions as listed in the Notice dated June 07, 2005 for raising long term funds (including issuance of Foreign Currency Convertible Bonds) upto 40 Million US Dollars were duly passed by the shareholders.

Psl Limited has informed the Exchange that the board in its meeting held on June 27, 2005 has decided to recommend a total dividend of Rs.4.50 per share(inclusive of interim dividend of Rs.2.50 per share paid in January 2005) on the fully paid up equity share of Rs.10/- each. However, the final dividend of Rs.2/- declared on June 27,2005 shall be paid to all eligible members/beneficiaries after declaration of dividend by the shareholders at the next AGM. Further the board has informed regarding the award of a prestigious contract by HPCL to the company for supply of 735 KMS of line pipe valued

Psl Limited has informed the Exchange that an EGM of the company is scheduled to be held on July 14, 2005. The details of the notice of EGM shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/CorporateAnnouncements).

Psl Limited has informed the Exchange that at the scheduled meeting held on June 07, 2005, the Board after discussing Company's plans aggregating to approximately Rs.300 crores for major capacity expansion for its existing domestic plants, setting up of new international facilities, strengthening of spread out regional bases and further overall consolidation of Company's capabilities vis-�-vis its competitors, accorded its in principle approval to proposal for raising long term funds, including issuance of Foreign Currency Convertible Bonds, upto 40 Million U.S. Dollars subject to such form an

Psl Limited has informed the Exchange that as per the letter dated March 10, 2005 received from Pune Stock Exchange and letter dated March 31, 2005 received from Ahmedabad Stock Exchange; all equity shares of the company are delisted from Pune and Ahmedabad stock exchanges with effect from March 14, 2005 and March 31, 2005 respectively.

Psl Limited has informed the Exchange that at the EGM held on April 07, 2005, the Managing Director informed the Members that the Company's Performance On The Export Front during the financial year 2004-05 just ended, was indeed spectacular as, subject to finalisation of accounts, the export turnover is likely to exceed as much as Rs.700 crores as against mere Rs.9.24 crores towards exports in the previous financial year. The Managing Director also announced about New Project Commissioning of a state-of-the-art Pipe Mill in Kutch, Gujarat, since the first phase of the said installation has bee

Psl Limited has informed the Exchange that an EGM of the company will be held on April 07, 2005. The details of the notice of EGM shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/CorporateAnnouncements).

Psl Limited has informed the Exchange that the BOD's at its meeting held on March 07, 2005, noted that the Company has been awarded another prestigious order worth Rs.343.00 crores from M/s Larsen & Toubro, for pipe supply, coating and other related works pertaining to GWRDC and NWRDC Projects of Gujarat Government, forming part of the "SUJALAM SUFALAM" and "MODERA TO DAROHI" irrigation works. The entire work is to be executed within the financial year 2005-2006 and the company has commenced taking effective steps to complete the same as per the schedule requirement.

Psl Limited has informed the Exchange that as scheduled, the BOD's at its meeting held on March 07, 2005, accorded its in principle approval for allotment of 5000000 equity shares of Rs.10/- each fully paid up on Preferential Allotment basis, at a price not less than the price calculated in accordance with "SEBI Guidelines" for Preferential Issue. Since such allotment, when made, has to be subject to an approval from shareholders of the Company, the Board has also fixed April 07, 2005, as the date for convening the EGM for the purpose.

Psl Limited has informed the Exchange that the Board has at its meeting held on January 19, 2005, decided to declare an Interim Dividend of Rs.2.50 per share on the fully paid up equity shares of Rs.10 each for the Financial Year 2004-2005.

Psl Limited has informed the Exchange that the Committee of Directors in its meeting held on January 01, 2005, has decided to fix January 24, 2005 as the "Record Date" to enable the Company to make the payments of Interim Dividend for the Financial Year 2004-2005, if the Board in its meeting to be held on January 19, 2005, declares the Interim Dividend. The said dividend would be payable from January 28, 2005.

Psl Limited has informed the Exchange that as per the letter dated December 10,2004 received from Delhi stock Exchange,all equity shares of the company are delisted from the Delhi stock Exchange w.e.f December 11,2004.

Psl Limited had informed the Exchange of the Company having bagged a contract on the export front from M/s. Nefte Gastruba JSC. The Company had inadvertently mentioned the project cost as 50 Million Dollar instead of 25 Million Dollar. The company has now amended the same and submitted the revised communication as under : The Company has bagged yet another prestigious contract on export front - this time from M/s. Nefte Gastruba JSC, a Kazakhstan Company promoted by M/s Ispat Karmet, a constituent Company of well known international Steel Giant, L N Mittal Global Steel. PSL has not only been e

Psl Limited has informed the Exchange that the Company has bagged yet another prestigious contract on export front - this time from M/s. Nefte Gastruba JSC, a Kazakhstan Company promoted by M/s Ispat Karmet, a constituent Company of well known international Steel Giant, L N Mittal Global Steel. PSL has not only been entrusted with supervision responsibilities of Design, Engineering, Key Equipment supply, Erection and Commissioning of the entire 50 Million Dollar Project to be completed before January 2006, it has been awarded with a letter of intent for US$ 9 million worth of equipment to be s

Psl Limited has informed the Exchange that the Company is in the process of expanding their capacity by way of installation of a Two Step Spiral Welded Pipe Mill at Kandla, the technology for which has been acquired from a leading Engineering Company of Germany namely "Management Engineering GmbH". The proposed expansion plan, which would cost over Rs.90 Crores is scheduled to be completed within 2005 itself. In view of its superior design and technology this Pipe Mill is capable of generating production at four times more speed than the conventional Pipe Mills and would therefore have a capac

Clarification of News : The press had reports on June 06, 2003 that PSL Limited has bagged an order from Iraqi administration in connection with the country's reconstruction activity in water supply. Further it has received orders worth Rs. 450 crore in connection with the Chennai Water Supply Augmentation Project-I. 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. PSL Limited has vide its letter inter-alia stated,