Clarification

• Security Code: 524816
• Company: NATCOPHARM

With reference to Increase in Volume, Natco Pharma Ltd has clarified to BSE that:

"we are fully aware and complying from time to time the terms and conditions including clause 36 of the Listing Agreement.

As per the fisting agreement, we always keep the stock exchanges information of any development which has bearing on the operation or performance of the Company including price sensitive information. You may have also noted the same.

We have also observed the recent increase in volume of share trading but we do not have any information as to the reasons thereof."