March 05, 2013

Press Release No. 1

News about Gammon India Limited and Gammon Infrastructure Projects Limited

The media had reports that Gammon India Limited may sell upto 24% stake in Gammon Infrastructure Projects 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 companies.

Gammon Infrastructure Projects Limited has vide its letter inter-alia stated, "We have not been informed of any move by Gammon India Limited to sell any stake in our Company."

Gammon India Limited has vide its letter inter-alia stated, “We wish to clarify that the statements made by Mr.Parvez Umrigar - Group Director, of the Company reflects the Management's general intent and thought. However, as already specified in the article, we would like to reiterate that with reference to the divestment proposals specified in the article the Company has neither sought formal approval of the Board nor has mandated any bank / advisor to advise on the divestment plans."