With reference to earlier announcement dated July 01, 2008 regarding the Board decision to recommend 8% p.a. dividend from April 30, 2007 to March 31, 2008 on the 8% Non-convertible Cumulative Redeemable Preference Shares issued on April 30, 2007, Liberty Phosphate Ltd has now informed BSE that the above announcement was wrongly submitted to the BSE.

The Company has now submitted to BSE the proper Outcome of Board Meeting as under:

“The Board of Directors of the Company at its meeting held on June 30, 2008 has decided not to recommend any dividend on 8% Non-convertible Cumulative Redeemable Preference Shares issued on April 30, 2007 and on Equity Shares for the Financial Year 2007-08 to conserve the resources and to meet the acute requirement of higher working capital.”