SVC Superchem business updates

SVC Superchem Ltd has informed about the following:

"Status of purified Terephthalic Acid (PTA) project of 1,20,000 MTPA capacity being set up at Chhata, Dist. Mathura, U.P., as at September 30, 2007.

The Company is maintainging its PTA project to the best of its available resources which remains unused.

The majority of lenders have approached DRT and some of them have unilaterally assigned their claims, while the Company has approached to the Honourable Delhi High Court objecting their unilateral action and claiming several relief's.

There was no complaints pending at the beginning of the quarter and the Company has received 22 investor grievances during the quarter ended September 30, 2007. All have successfully responded from time to time.

The above status of project was taken on record by the Board of Directors at its meeting held on October 31, 2007."