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Piramal Life Sciences Ltd has informed BSE that the Annual General Meeting of the Company would be held on August 07, 2008.

Further the Company has now informed that, due to unavoidable reasons, the Annual General Meeting of the Company is being rescheduled and Company shall intimate the date for the Annual General Meeting when fixed. However, there is no change in the dates announced for the purpose of Book Closure, which was fixed from July 31, 2008 to August 07, 2008 (both days inclusive).

Further, the Company has informed that no dividend is being recommended at the ensuing Annual General Meeting.

With reference to the news item appearing in a leading web portal titled “MPM Capital, Orbimed in race to buy strategic stake in Piramal Life Sciences”, Piramal Life Sciences Ltd has clarified to BSE that the Company is engaged in New Chemical Entity (NCE) Research and Development activity, which was recently demerged to it from Piramal Healthcare Ltd (formerly known as Nicholas Piramal India Ltd). NCE Research is a capital-intensive activity for which the Company explores from time to time various strategic funding initiatives. However, as a policy and in the interest of its shareholders, the Company does not comment on any report relating to potential strategic initiatives unless they have reached the definite stage. Any comment by the Company on strategic initiatives that are either preliminary in nature or at the negotiating stage would otherwise be speculative.