SRF/SEC-A/4                                                                                     30.03.2006

Dear Sir,

News Item appearing in “MoneyControl.com”

Kindly refer  to your fax message of date.

In connection with receipt of money from sale of carbon credits, we wish to draw your kind attention to our letter dated 17.02.2006 along with detailed Press Release stating, inter-alia, that “SRF intends to realize around Rupees 85 crores by transfer of 1.4 million CERs during the current quarter”. A copy of the detailed press release was also enclosed with  this  letter.

We hereby confirm that the Company has received Rs.95 crores towards sale of 1.4 million carbon credits.

Thanking you,

Yours faithfully,
for SRF Limited

Anoop K. Joshi
Company Secretary