NOCIL - No Ambani, No Land

With reference to the News Item appearing in a leading Financial Daily dated December 24, 2007, NOCIL Ltd has clarifiedthat - NOCIL is not a part of Mukesh Ambani led Reliance Industries and NOCIL Petrochemicals is not a subsidiary of NOCIL and hence the question of shareholders of NOCIL getting new shares of NOCIL Petrochemicals does not arise at all. The Company further clarified that NOCIL does not own large tract of land in the Thane Belapur Industrial belt in Navi Mumbai as wrongly stated in the said article.