UTTAMSTL

Uttam Galva Steels Limited has informed the Exchange that Stemcor Pte. Ltd. securitizes exports worth US$40 Million of Uttam Galva Steels Ltd. Stemcor has agreed to make interest bearing advance payments amounting to US$40 million dollar to Uttam Galva Steels Ltd.

Uttam Galva Steels Limited has informed the Exchange that the meeting of the Audit Committee of Directors of the Company will be held on January 15, 2005 (instead of January 14, 2005 as mentioned earlier) to review internal audit and take on record the Unaudited Financial Results (Provisional) for the quarter ended December 31, 2004.

Uttam Galva Steels Limited has informed the Exchange that Uttam Galva Exports Limited is no more subsidiary company of Uttam Galva Steels Limited by virtue of dilution of shareholding below 50% of the total equity capital of Uttam Galva Exports Ltd held by the Company w.e.f December 8, 2004.

Uttam Galva Steels Limited has informed the Exchange about the following : 1. the company has embarked on a Rs. 350 crores expansion programme which it hopes to complete in one and a half years from now and this will take the company's production capacity from present 5 lacs MT to 10 lacs MT and for that the necessary steps have been/are being taken. The said increase in production capacity is likely to double the company's turnover to about Rs.4000 crores by financial year 2006-2007. 2. as a part of the down stream expansion, the company is also going in for a new paint line from January-Febr

Uttam Galva Steels Limited has informed the Exchange that the allotment of the following Equity Shares and Warrants have been made by the Committee of Directors at its meeting held on September 29, 2004 : 1) 34,76,300 Equity Shares of Rs.10/- for cash at a maximum premium of Rs.5/- per Equity Shares and 34,76,300 Warrants of Rs.10/- each at a maximum premium of Rs.10/- each to be issued to the Promoters Associate Company namely Uttam Investments Pvt. Ltd. 2) 69,52,700 Equity Shares of Rs.10/- for cash at a maximum premium of Rs.5/- per Equity Shares to be issued to Strategic Investors namely S

Uttam Galva Steels Limited has informed the Exchange that Shri S R Krishnaswamy is appointed as Nominee Director of Life Insurance Corporation of India in place of Shri M S Natarajan - Nominee Director of Life Insurance Corporation of India w.e.f. September 20, 2004 on the BoD's of the Company.