Reliance Petroleum Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 22, 2008, has approved the following disclosures, which were reviewed by the Audit Committee:

1. The status of the Project as on June 30, 2008 is in accordance with the major milestones stated in the Prospectus dated April 28, 2006.

2. The Company had raised Rs 8,100 crore through Initial Public Offering. As on June 30, 2008, the Company has utilised Rs 25,515 crore for the Project against a projected utilisation of funds of Rs 24,125 crore. The variation is mainly due to payments in advance under project contracts for continued efficient and speedy implementation of the Project. Based on the progress made till date the Project is expected to be completed ahead of December 2008.

3. During the quarter ended June 30, 2008, the Company received 44 complaints, which along with one complaint pending at the beginning of the quarter were resolved and there was no complaint pending on June 30, 2008.