December 7, 2012

Press Release No. 1

News about Visa Steel Limited

The media had reports that Visa Steel Limited may bring in a strategic investor in its core steel business.

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.

Visa Steel Limited has vide its letter inter-alia stated, "We wish to clarify that the Company explores opportunities on an ongoing basis, some of which gets indicated in the Annual Report 2011-12 and appropriate public announcement of any new development with regard to the company is made in accordance with applicable law. No material event has occurred requiring intimation to Stock Exchanges as per Clause 36 of the Listing Agreement".