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With reference to the earlier announcement January 23, 2008 & May 16, 2008 and as approved by the shareholders of the Company, Gammon India Ltd has informed BSE that the ESOP Compensation Committee of the Company at its meeting held on July 19, 2008, has approved granting of balance 5,00,000 (Five Lakhs only) options to the Employees of the Company (including whole-time Directors and Directors) under the GIL Employees Stock Option Scheme - 2007, each option being convertible into one equity share of the Company vesting at a price of Rs 211.15 per share (closing price of the Equity Share - NSE on July 18, 2008), subject to the Securities and Exchange Board of India (Employees Stock Option Scheme) 1999 and the terms of the GIL Employees Stock Option Scheme, 2007. The options will vest based on the criteria and in the manner specified in the Scheme.

With reference to the earlier announcement dated June 11, 2008 regarding the acquisition by Gammon India of Sadelmi S.p.a., Italy and Franco Tosi Meccanica S.p.a, Italy, Gammon India Ltd has further informed to BSE as follows:

1. The cost of acquisition of 50% shares of Sadelmi S.p.a. having its registered office at Via A. Falck n. 4/16 - 20099 Sesto San Giovanni (Milan), Italy was Euro 7.5 Million.

2. The cost of acquisition of 75.1% shares of Franco Tosi Meccanica S.p.a. having its registered office at Piazza del Monumento n. 12, Legnano - Milan, Italy was Euro 40 Million.

Gammon India Ltd has informed BSE that the Company through its offshore subsidiaries has acquired shares in the following overseas Companies through additional infusion of equity:

(i) 50% shares of Sadelmi S.p.a. having its registered office at Via A Falck n. 4/16 - 20099 Sesto San Giovanni (Milan), Italy, a Company engaged in balance of plant mainly for the power sector.

(ii) 75.1% shares of Franco Tosi Meccanica S.p.a. having its registered office at Piazza del Monumento n. 12, Legnano - Milan, Italy, a Company engaged in the manufacture of steam turbines for thermal and hydro-electric plants.

With reference to the earlier announcement January 23, 2008 and as approved by the shareholders of the Company, Gammon India Ltd has informed BSE that the ESOP Compensation Committee of the Board of Directors of the Company at its meeting held on May 15, 2008, has approved granting of 15,00,000 (Fifteen Lakhs only) options to the Employees of the Company (including whole-time Directors and Directors) under the Employees Stock Option Scheme, each option being convertible into one equity share of the Company vesting at a price of Rs 395.75 per share (closing price of the Equity Share - NSE on May 14, 2008), subject to the Securities and Exchange Board of India (Employees Stock Option Scheme) 1999 and the terms of the GIL Employees Stock Option Scheme, 2007. The options will vest based on the criteria and in the manner specified in the Scheme.

With reference to the news item appearing in a leading financial daily titled “Gammons wins Rs 800 cr order”, Gammon India Ltd has clarified to BSE that the Company has bagged an order from Madhya Pradesh Government to develop fifteen acres of land for commercial development for only Rs 338 crore and not Rs 800 crore, as has been wrongly stated in the news item in the financial daily on April 19, 2008. The Company would like to reiterate that the report is misleading and are unaware as to the source of this information by the publishers.

Gammon India Ltd has informed BSE that Gammon Infrastructure Projects Ltd (GIPL), a subsidiary of the Company, has filed the Red Herring Prospectus with the Registrar of Companies, Maharashtra in connection with its ‘Initial Public Offer’ of 1,65,50,000 equity shares of the face value Rs 10/- each, comprising a net issue of 1,48,95,000 equity shares to the public and a reservation of 16,55,000 equity shares for eligible employees.

The IPO is being made on 100% book building route, with the price band being Rs 167/- to Rs 200/-. The issue will remain open from March 10, 2008 to March 13, 2008.