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Hindalco Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 20, 2008, has approved the issue of Equity Shares for an amount not exceeding Rs 5000 Crores to the existing Shareholders on rights basis (”Rights Issue”) to part finance the take out of the existing bridge loan for acquisition of Novelis Inc. The Share Ratio for the Rights issue will be 1:3, i.e. one right of Re 1 each for every three equity shares of Re 1 each held by the shareholder as on the Record Date to be announced later.

The price per share for the Rights Issue would be decided by the Board and announced at a later date in accordance with the relevant statutory requirements.

Hindalco Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 20, 2008, inter alia, has recommended the payment of the following Dividends on 6% Cumulative Redeemable Preference Shares for the Financial Year commencing on April 01, 2007 upto March 31, 2008 to the Company’s shareholders.

(i) 6% being Rs 0.12 per Share on 20,32,734 fully paid-up Preference Shares of Re 2/- each.

Hindalco Industries Ltd has announced the following Audited results for the year ended March 31, 2008:

The results for the Year ended March 31, 2008

The Company has posted a net profit of Rs 28609 million for the year ended March 31, 2008 where as the same was at Rs 25643 million for the year ended March 31, 2007. Total Income is Rs 196939 million for the year ended March 31, 2008 where as the same was at Rs 186831 million for the year ended March 31, 2007.

The Consolidated results are as follows:

The consolidated results for the Year ended March 31, 2008

The Group has posted a net profit of Rs 23873 million for the year ended March 31, 2008 where as the same was at Rs 26858 million for the year ended March 31, 2007. Total Income is Rs 606688 million for the year ended March 31, 2008 where as the same was at Rs 197251 million for the year ended March 31, 2007.

- On May 15, 2007, the Company acquired Novelis Inc. (Novelis), the world’s largest aluminium rolled product manufacturer through its indirect wholly-owned subsidiary A V Metals Inc. (Acquisition Sub) pursuant to a plan of arrangement (Arrangement) entered into on February 10, 2007 and approved by the Ontario Superior Court of Justice on May 14, 2007. As a result of the Arrangement, Acquisition Sub acquired all of Novelis’ outstanding common shares at a. price of US$ 44.93 per share in exchange for cash payments. The aggregate purchase price for Novelis’ common shares was US$ 3.4 billion and immediately following the Arrangement, the common shares of Novelis were transferred from Acquisition Sub to the Company’s wholly-owned indirect subsidiary A V Aluminum Inc, a Company established in Canada for this purpose. A V Aluminum Inc. is a wholly owned subsidiary of A V Metals Inc which in turn is a wholly owned subsidiary of A V Minerals (Netherlands) B.V. As such, consolidated figures of the year ended March 31, 2008 are not comparable with those of the previous year.

- Upon receipt of all requisite approvals, Indian Aluminium Company, Ltd (Indal), a subsidiary of the Company, has been amalgamated with the Company with effect from April 01, 2007. Accordingly, standalone figures year ended March 31, 2008 are not comparable with those of the corresponding previous periods.

Hindalco Industries Ltd has informed BSE Company came out with the Rights Offer of 231,936,993 equity shares of Rs 1/- @ Rs 96/- per Share in December, 2005. As per the terms of the Offer, Rs 24/- was payable on application and balance Rs 24/- was payable between 9 to 12 months from the date of allotment and Rs 48/- was payable between 18 to 24 months from the date of allotment.

In view of the aforesaid, the First Call Money Notice was sent on November 06, 2006 and Final Call Money Notice was sent on August 31, 2007.

In this connection, the Company has further informed BSE that the Board of Directors of the Company at their Meeting held on June 20, 2008, approved forfeiture of shares as per the relevant provisions of the Article of Association of the Company and Right issue letter of offer dated November 25, 2005, where either first or final call money is not paid.

As per the decision of the Board, the Company is sending forfeiture Notice to the concerned Shareholders, who have not paid the Call Money, advising them to pay the Call Money latest by July 08, 2008. If any, Shareholder fails to pay the Call Money by the said date, shares will be forfeited.

With reference to the earlier announcement dated June 10, 2008, Hindalco Industries Ltd has now informed BSE that the meeting of the Board of Directors of the Company which is scheduled to be held on June 20, 2008, will consider as part of the agenda a comprehensive financing plan for take out of the existing bridge financing for acquisition of Novelis. This take out financing must be in place by November 10, 2008. The financing plan will evaluate various options including an equity rights issuance.

Hindalco Industries Ltd has informed BSE that the Committee of Directors (CoD) of the Company at its meeting held on May 03, 2008, inter alia, in terms of Clause B- 12 and other applicable Clauses of the Scheme of Amalgamation, 376 Equity Shares of the Company of Re 1/- (Rupee One only) each fully paid up and 2032734 Preference Shares (6%) of Rs 2/- fully paid redeemable on April 01, 2009, be and are hereby issued, and allotted to the members of Indian Aluminium Company Ltd (”Indal”).

Hindalco Industries Ltd has announced the following results for the quarter & year ended March 31, 2008:

The Unaudited results for the Quarter ended March 31, 2008

The Company has posted a net profit of Rs 10770 million for the quarter ended March 31, 2008 where as the same was at Rs 7213 million for the quarter ended March 31, 2007. Total Income is Rs 51544 million for the quarter ended March 31, 2008 where as the same was at Rs 48722 million for the quarter ended March 31, 2007.

The Unaudited results for the Year ended March 31, 2008

The Company has posted a net profit of Rs 28609 million for the year ended March 31, 2008 where as the same was at Rs 25643 million for the year ended March 31, 2007. Total Income is Rs 196939 million for the year ended March 31, 2008 where as the same was at Rs 186831 million for the year ended March 31, 2007.

The figures for the year ended March 31, 2007 are Audited.

Upon receipt of all requisite approvals, Indian Aluminium Company Ltd, a subsidiary of the Company, has been amalgamated with the Company with effect from April 01, 2007. Accordingly, the figures of current quarter and year ended March 31, 2008 are not comparable with those of the corresponding previous periods.

Hindalco Industries Ltd has informed BSE that the Scheme of Amalgamation between
Indian Aluminium Company Ltd and Hindalco Industries Ltd has been approved by the High Courts of Judicature of Bombay and Kolkata. Further, the said Scheme has been made effective by the Board of Directors of the Company on March 25, 2008.