Axis Bank Ltd (”Manager to the Offer”) on behalf of Mr Abhay Lodha, Mr Ashwin Lodha & Akshata Mercantile Pvt Ltd (”Acquirers”) & Mrs Sheela Lodha, Mrs Mona Lodha, Mr Prasanna Lodha, Mrs Kusum Lodha, Mr Surendra Lodha, Mrs Sharmishtha Lodha, Mr Vimal Kumar Somani, Mr Rajesh Kumar Jain, Rockdude Financial Services Pvt Ltd, Akshata Realtors Pvt Ltd, Netra Mercantile Pvt Ltd, Deep Star Alloys & Steel Pvt Ltd, Poscho Steel Pvt Ltd, Phoenix Realtors Pvt Ltd & Riya Real Estate Pvt Ltd (”PACs”) has issued this Corrigendum to the Public Announcement to the shareholders of Gujarat Foils Ltd (”Target Company”), which is in continuation of & should be read in conjunction with the Public Announcement (”PA”) dated April 15, 2008 & Corrigendum to the PA dated May 30, 2008, pursuant to and in compliance with Regulations 10, 12 and other applicable provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto.

The shareholders of the Target Company are requested to note the following revisions / additions.

As announced in the Corrigendum dated May 30, 2008, the letter of offer was scheduled to be dispatched to the shareholders by (Friday) June 06, 2008. There has been some delay & letter of offer has not been dispatched as scheduled. The revised schedule of activities (including the date of dispatch of letter of offer) shall be announced to the shareholders by way another corrigendum in due course.

Terms used but not defined in this Corrigendum shall have the same meaning assigned to them in the PA.