Gateway Distripaks - stake sale ?

With reference to the news item appearing in a leading financial daily titled "Gateway Distripaks MD may take reins; Co. may offload stake to strategic partner later; Reliance Logistics and Tata Group Send Feelers", Gateway Distripaks Ltd has clarified that the contents of this report are not based on facts and are speculative in nature. The Company has responded to the financial daily clarifying the issues raised in the report.

The Company further clarify that they have only one Indian Promoter, Mr. Prem Kishan Gupta, who holds around 18 % in the equity of the Company in his personal name and in the name of his company, Prism International Pvt Ltd.

Gateway Distripaks - Concor JV

Gateway Distriparks Ltd has informed that the Company's subsidiary, Gateway Rail Freight Ltd (GRFL) had signed an agreement with Container Corporation of India Ltd (CONCOR) in March 2007 to form a joint venture Company (JVC) and operate the rail-linked inland container depot (ICD) at Garhi Harsaru, Gurgaon.

The parties to the above agreement reached closure of the terms of the agreement and the JVC, Container Gateway Ltd (CGL) has become operational with effect from December 01, 2007.

GatewayRail and CONCOR have shareholding in the ratio of 51:49 respectively in Container Gateway Ltd.