December 3, 2012

Press Release No. 1

News about UltraTech Cement Limited & Jaiprakash Associates Limited

The media had reports that UltraTech Cement Limited is in talks to acquire the Gujarat Cement unit of Jaiprakash Associates Limited.

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the company.

Jaiprakash Associates Limited has vide its letter inter-alia stated, "The Company's cement plant in Gujarat was hived off to its Wholly Owned Subsidiary (WOS), Jaypee Cement Corporation Limited (JCCL) through Scheme of Arrangement which was sanctioned by Hon'ble High Court of Judicature at Allahabad on 9th April 2012. On implementation of the scheme, the said Gujarat Cement Plant stood vested in JCCL who have been looking into various options to unlock the value for their shareholders, as per the objects of the said Scheme and have confirmed to us that they have not so far signed any Binding Agreement."

UltraTech Cement Limited has vide its letter inter-alia stated," The Company has not issued any Press Release on the subject. The news item is purely based on market speculation and the Company does not comment on market speculation."