February 24, 2015

Press Release No. 1

Clarification by Piramal Enterprises Limited

Substantial increase in trading volumes have been observed in Piramal Enterprises Limited.

The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company.

Piramal Enterprises Limited has vide its letter inter-alia stated, "We would like to clarify that we are not aware of such information/announcement (including impending announcement)."