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Garware Offshore Services Ltd has informed BSE that the Company on July 21, 2008 has taken the delivery of Anchor Handling Tug Cum Supply Vessel (AHTSV) viz, ‘M.V. Poorna’ at Singapore, having a bollard pull of 60T.

The Vessel has “DP1 System” and “FiFi 1″ Notation. The layout of the Wheelhouse & Accommodation has been done with comfort of the crew and ease of operation as priority and all equipment on the Vessel is fitted as per the latest requirements of International Maritime Organization.

The Vessel is scheduled to work in the Far East on a term contract.

Garware Offshore Services Ltd has informed BSE that the Company has, on June 27, 2008 taken the delivery, at Norway, of a PSV, viz., “M V Mana” having Rolls Royce UT 755LN design. This vessel has improved fuel economy over the UT 755L designs as it has bulbous bow. The vessel has 2 Bow Thrusters & 2 Stern Thrusters, “DP1 System”, “FIFI 1″ and “CLEAN” notation and is fitted with an Electronic Chart Display. The layout of the Wheelhouse & Accommodation has been done with comfort of the crew and ease of operation as priority. All equipment on the vessel is fitted as per the latest requirements of IMO.

HSBC Securities and Capital Markets (India) Pvt Ltd (”Manager to the Offer”) for & on behalf of indiaSTAR (Mauritius) Ltd (”Acquirer”) has issued this Post Offer Public Announcement to the shareholders of Garware Offshore Services Ltd (”Target Company”), which is in continuation of & should be read in conjunction with the Public Announcement (”PA”) dated November 07, 2007 and Corrigendum to the PA dated December 14, 2007, December 19, 2007 and March 10, 2008 respectively, and the Letter of Offer dated March 12, 2008 and the Corrigendum to the Letter of Offer dated March 24, 2007, Pursuant to Regulation 10 and other applicable provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto (SEBI (SAST) Regulations”), to acquire up to 47,63,819 fully paid up equity shares of Rs 10/- each of the Target Company (the “Shares”) and each a “Share”), representing 20% of the expanded paid-up voting equity share capital of the Target Company as on November 06, 2007 is as under
Details of Acquisition:

Payment of Interest to the Shareholders, if any : Rs 4.67/- per equity share

Garware Offshore Services Ltd has informed BSE that the Company has secured a Contract for upto 3 years for its new Anchor Handling Tug cum Supply Vessel (AHTS) being delivered in
Singapore in June, 2008. The annual revenue from this Contract is expected to be in the region of Rs 17.5 crores.

The Company presently owns and operates six vessels and has five more vessels scheduled for delivery within the next 10 months.

In view of buoyant demand in the Offshore Services Sector, the Company continues to look for more assets to acquire in an attempt to develop / strengthen its fleet.

HSBC Securities and Capital Markets (India) Pvt Ltd (”Manager to the Offer”) for and on behalf of indiaSTAR (Mauritius) Ltd (”Acquirer”) has issued this Corrigendum to the Public Announcement to the shareholders of Garware Offshore Services Ltd (”Target Company”), which is in continuation of and should be read in conjunction with the Public Announcement (”PA”) dated November 07, 2007 and the Corrigendum to the PA dated December 14, 2007, December 19, 2007 & March 10, 2008 respectively, pursuant to Regulation 10 and other applicable provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto (“SEBI (SAST) Regulations”).

The shareholders of the Target Company are requested to note the following:

1. Note 2 of the Corrigendum to the PA dated March 10, 2008 has been revised as follows:-

“The Shareholders of the Target Company may please note that the Acquirer has agreed to pay Interest at the rate of 10% per annum to the shareholders of the Target Company who have validly tendered their shares in the Offer, for the delay caused in completion of the obligations under the Offer.”

As a result of the above the Cash Offer Price has been revised to Rs 234.67/- (Rupees Two Hundred & Thirty Four & Paise Sixty Seven Only) per share in cash comprising of Rs 230.00/- (Rupees Two Hundred & Thirty Only) per Equity Share (”Offer Price”) plus interest of Rs 4.67/- (Rupees Four & Paise Sixty Seven Only) per Equity Share calculated at the rate of 10% per annum from the date 77 (seventy seven) days after February 05, 2008 i.e. from February 05, 2008 till April 22, 2008 i.e. revised date of the payment of consideration to the Shareholders of the Target Company as mentioned in the Corrigendum to the PA dated March 10, 2008.

2. Section 1.7.5 of the PA has been revised as follows:-

“The minimum offer price which in terms of Regulation 20(4) of the Regulations is the highest of the prices mentioned in the table above, works out to Rs 110.00 (Rupees One Hundred & Ten Only) & the Cash Offer Price of Rs 234.67/- (Rupees Two Hundred & Thirty Four & Paise Sixty Seven Only) being not less than the highest of the prices computed in accordance with the parameters as illustrated above, is therefore justified in terms of Regulation 20 of the SEBI (SAST ) Regulations.”

The other terms & conditions of the Offer remain unchanged. Terms used but not defined in this Corrigendum shall have the same meaning as assigned in the PA.

HSBC Securities and Capital Markets (India) Pvt Ltd (”Manager to the Offer”) for and on behalf of IndiaSTAR (Mauritius) Ltd (”Acquirer”) has issued this Corrigendum to the Public Announcement to the equity shareholders of Garware Offshore Services Ltd (”Target Company”), which is in continuation of and should be read in conjunction with the PA dated November 07, 2007 and the Corrigenda to the PA dated December 14, 2007 & December 19, 2007 respectively, pursuant to Regulation 10 and other applicable provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto (”SEBI (SAST) Regulations”).

The shareholders of the Target Company are requested to note the following:

1. Section 8 of the PA (”Time schedule for major activities for the Offer”) has been revised. The original & revised time schedule for major activities for the Offer is as under:

------------------------------------------------------------------------------------------
Activity			Original Schedule		Revised Schedule
------------------------------------------------------------------------------------------
Specified Date			November 30, 2007		November 30, 2007
Date of Opening of the Offer	January 01, 2008		March 19, 2008
Date of Closing of the Offer	January 21, 2008		April 07, 2008
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2. In accordance with the terms of the SEBI (SAST) Regulations & as directed by the Securities & Exchange Board of India, the Acquirer shall pay interest at the rate of 10% per annum to the shareholders of the Target who have validly tendered their shares in the Offer, for the delay caused in completion of the obligations under the Offer.

Garware Offshore Services Ltd has informed BSE that the Company has entered into a Memorandum of Understanding (MoU) for the acquisition of one Anchor Handling Tug Cum Supply Vessel (AHTSV) of 60 Tons Bollard Pull fitted with Fire Fighting Equipment (FIFI 1)
and Dynamic Position System (DP1).

The Vessel is schedule to be delivered to the Company in February, 2009.