Updates on Open Offer

• Security Code: 514330
• Company: ONEGLOBAL

Asit C. Mehta Investment Interrmediates Ltd ("Manager to the Offer") has Submitted to BSE a Detailed Public Announcement to the Equity Shareholders of Overseas Synthetics Ltd (Target Company).

Asit C. Mehta Investment Interrmediates Ltd ("Manager to the Offer") on behalf of Mr. Naresh Vijay Kumar Goyal, Mrs. Shubharangana Naresh Goyal, Mr. Navedeep Naresh Goyal, Mr. Kamal Rajendrakumar Aggarwal and Mrs. Minal Kamalkumar Aggarwal ("Acquirers") has informed this Detailed Public Statement ("DPS") to the Equity Shareholders of Overseas Synthetics Ltd ("Target Company"), in compliance with Regulation 13 (4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto ("SEBI (SAST) Regulations") pursuant to the Public Announcement ("PA") filed on November 17, 2011 with Bombay Stock Exchange (BSE)/ SEBI/ Target Company in terms of Regulation 3 of the SEBI (SAST) Regulations.

The Offer:

The Acquirers are making an Open Offer to the Public Shareholders (i.e. Shareholders other than the Acquirers, parties to the Agreement and Promoter Group Shareholders of Target Company) of Target Company to acquire 18,47,224 Equity Shares of Rs. 10/- each representing 26% of present paid up & voting capital of the Target Company, at a Price of Rs. 3/- (Rupees Three only) ("Offer Price"), payable in cash, subject to the terms and conditions mentioned in this DPA.

Tentative Schedule of Activity:

Identified Date (for the purpose of determining the name of shareholders to whom the Letter of Offer will be sent) - December 26, 2011

Date of Commencement of Tendering Period (Offer Opening Date) - January 09, 2012

Date of Expiry of Tendering Period (Offer Closing Date) - January 20, 2012

Identified Date is only for the purpose of determining the names of the Shareholders as on such date, to whom the Letter of Offer would be sent and all owners (registered or unregistered) of Shares of Target Company anytime before the closure of the Tendering Period, are eligible to participate in the Offer.

(For more details kindly refer Corporate Announcements on www.bseindia.com).