February 11, 2013

Press Release No. 1

News about Oil India Limited and Videocon Industries Limited

The media had reports that Oil India Limited is likely to acquire Videocon Industries Limited's stake in Mozambique's Rovuma Basin asset.

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.

Oil India Limited has vide its letter inter-alia stated, "We are denying the content of the article".

Videocon Industries Limited has vide its letter inter-alia stated, "We wish to inform that the Company does not comment on the rumours and speculative market reports".