PRESS RELEASE

The Securities and Exchange Board of India (SEBI) has suspended the certificate of registration of M/s. Shyam Sundar Dalmia (SEBI Reg. No. INB030077614) member of the Calcutta Stock Exchange for a period of three (3) months with effect from December 26, 2003. The penalty is imposed for non-maintenance of order book, and margin deposit book, deficiencies in the client registration forms and entering into matching transactions etc.


M/s. Shyam Sundar Dalmia member of the Calcutta Stock Exchange will not be entitled to carry on the business as a Stock Broker with effect from December 26, 2003 till March 25, 2004.