Notice is hereby given that 14th Annual General Meeting of the shareholders of the Company will be held on Monday, the 28th July, 2003 at 3.00 p.m. at "M.C.Ghia Hall", Bhogilal Hargovindas Building, 2nd Floor, 18/20 Kaikhushru Dubash Marg, Behind Prince of Wales Museum, Mumbai - 400 001 to transact the business as listed in the Notice of the said Meeting which is being mailed to the shareholders along with the Balance Sheet and the Profit and Loss Account of the Company for the year ended 31st March, 2003 and the Reports thereon of the Directors and Auditors.

Pursuant of the Section 154 of Companies Act, 1956, NOTICE is also hereby given that the Register of Members and Share Transfer Books of the Company will remain closed from Thursday, the 10th July, 2003 to Monday, the 28th July, 2003 (both days inclusive). The payment of Dividend on equity shares for the year ended 31st March, 2003, if declared, at the aforesaid Meeting will be payable to those members in physical form whose names stand on the Company's Register of Members on Monday, the 28th July, 2003 and to whom dividend warrants will be posted. In respect of shares held in electronic form, the dividend will be paid on the basis of beneficial ownership position as at the end of the day on Wednesday, the 9th July, 2003 as per the data to be furnished by National Securities Depository Limited (NSDL) and Central Depositary Services (India) Limited (CDSL) for the purpose.

By Order of the Board,
Nitin K. Jage
Mumbai General Manager &
Date : 1st July, 2003 Company Secretary