Apollo Sindhoori clarifies on news item

• Security Code: 532974
• Company: BIRLAMONEY

With reference to the news item appearing in a leading financial daily titled "AV Birla to enter broking with Rs 280-cr ASCIL buy", Apollo Sindhoori Capital Investments Ltd (ASCIL) has clarified to BSE that the Board of Directors at their meeting held on October 29, 2007 proposed to bring in additional investment either through strategic / financial investor. Towards this the Company is in discussion with potential strategic / financial investors including A V Birla. As of now, the Company has not firmed up and no agreement has been reached. As and when any development takes place, the Company will intimate the Stock Exchange.