Reliance Petroleum Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 16, 2008, has approved the following disclosures, which were reviewed by the Audit Committee:

1. The status of the Project as on March 31, 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 March 31, 2008, the Company has utilised Rs 23,319 crore for the Project against a projected utilisation of funds of Rs 22,130 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. There were 2 investor complaints pending as on December 31, 2007. During the quarter, the Company received 78 complaints. Of the above, 79 complaints were resolved / replied and there were 1 complaint pending as on March 31, 2008. These complaints has since been resolved.