South Asian Petrochem Ltd has informed BSE that the Company has given below the details of the projected utilization of funds as stated in the explanatory to the notice for the Extra Ordinary General Meeting held on December 08, 2007 vis-?-vis the actual utilization funds for the quarter ended December 31, 2007:

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Particulars		Purpose			Inflow of funds		Utilization of funds
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Equity Shares and	i)Equity participation	*Rs 741623179.96	i) Rs 13,779,500
warrants issued to	in overseas					utilized for
IFC & Promoter		subsidiary,					investment in
Group			ii) retirement of high				Egyptian Indian
			cost borrowings, and				Polyester Co.
			iii) other business				ii) Share Issue
			purposes including				Expenses-
			working capital					Rs 14755190
			requirements					***
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FCCB's			i) Equity participation	** NIL			i)Rs 986750 paid
			in overseas					to Silverdale
			subsidiary,					Services Ltd.
			ii) retirement of high				(Intermediaries
			cost borrowings, and				for arrangements
			iii) other business				of FCCB issue.)
			purposes including				ii) FCCB Issue
			working capital					Expenses-
			requirements					Rs 100000
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* Which includes 10% upfront money amounting Rs 23923328/- against the allotment of
14064273 Warrants.

** FCCB inflow has been received in January?08.

*** A portion of the inflow has been invested in Mutual Funds & Shares and balance is lying in the current account with banks of the Company.