Nicholas Piramal - scheme of arrangment

Nicholas Piramal India Ltd (NPIL) has informed that February 22, 2008 has been fixed as the Record Date for the purpose of determining entitlement of equity shareholders of NPIL to receive equity shares of NPIL Research & Development Ltd (NRDL), pursuant to the Scheme, in the ratio of 1:10 i.e. 1 (one) equity share of Rs 10 of NRDL credited as fully paid up to be allotted for every 10 (ten) equity shares of Rs 2 each held in NPIL as on the said Record Date.