PRESS RELEASE

Chairman SEBI has passed an order dated 11/01/03, against Shri Yashwant A Thakkar, Member, BSE in the case of Elvis India Ltd. Vide the aforesaid Order, Chairman has vide his powers under Sec. 4(3) read with Sec 11 B of SEBI Act 1992 ordered Shri Yashwant A Thakkar to refrain himself from dealing in securities for a period of 2 years with immediate effect.