Jyoti Ltd

With reference to the news item appearing in a leading financial daily titled "Gujarat's Jyoti lights up on mega deal buzz", Jyoti Ltd has clarified under:

"The bids are under scrutiny by the concerned authorities of Karnataka Government. The Company has not received the Letter of Intent. When the Company will receive the Letter of Intent, the same will be intimated to the Stock Exchange.

It is also true that the Company owns 15 acres and close to Vadodara Railway Station. The Company has plan to shift its production base from Vadodara to Mogar, near Anand in the years to come. The news has already been published in various newspapers earlier also including Economic times. As and when the Company will have concrete plan for shifting its base, the Company will inform the Stock Exchanges accordingly.

It is also true that the Company is looking for funds to meet its requirements for existing and new Project and are looking for various alternatives for arranging funds. It is at a very preliminary stage and no concrete proposal has been decided by the Company."