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Mahindra Ugine Steel Company Ltd has informed BSE that 6,375 Options have been further lapsed and the total number of options which are lapsed under Employees Stock Option Scheme (ESOS) of the Company are now aggregate to 1,84,375. The details of the options lapsed is given as under:

- Total Options granted as of date: 10,98,000

Options lapsed (earlier reporting) - 1,78,000
Options lapsed (Current reporting) - 6,375

- Total Options lapsed : 1,84,375

The total live Options : 9,13,625.

Mahindra Ugine Steel Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 29, 2008, inter alia, has approved the following, subject to approval by the Shareholders at the ensuing Annual General Meeting of the Company :

1. Reappointment of Mr. K V Ramarathnam, Managing Director of the Company for the period, of three years with effect from May 05, 2008.

2. Recommendation of Dividend @ 30 % i.e. Rs 3/- per Equity Share of the face value of Rs 10/ each of the Company for the financial year ended March 31, 2008, for approval by the shareholders at the ensuing Annual General Meeting of the Company.

Mahindra Ugine Steel Company Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on April 29, 2008, inter alia, to consider and approve the Audited Financial Results of the Company for the year ended March 31, 2008 and to recommend dividend, if any, along with other business.

With reference to the earlier announcement dated February 29, 2008, Mahindra Ugine Steel Company Ltd has now informed BSE that in accordance with the approval accorded by the Board of Directors of the Company at its meeting held on January 28, 2008, the Company on February 29, 2008 has entered into a Power Delivery Agreement with Wardha Power Company Ltd (WPCPL) for availing the supply of 35MW power under the Group Captive Concept to the Company’s Khopoli Plant at an investment of Rs 22.75 crores. WPCPL is expected to commission the project and start supplying power from December 2009 onwards. The Agreement will be valid for 25 years.

Mahindra Ugine Steel Company Ltd has informed BSE that in accordance with the approval accorded by the Board of Directors of the Company at its meeting held on January 28, 2008, the Company has entered into a Power Delivery Agreement with Wardha Power Company Ltd (WPCPL) for availing the supply of 35MW power under the Group Captive Concept to the Company’s Khopoli Plant at an investment of Rs 22.75 crores. WPCPL is expected to commission the project and start supplying power from December 2009 onwards. The Agreement will be valid for 25 years.