Dated: March 12, 2004
Circular No. DDP/02/03/

Dear Sir,

SUB: Instructions received through Fax

This is to inform you that our Regulator (NSDL) vide its circular No. NSDL/PI/2002/0740 issued guidelines for executing delivery instructions received through fax from the Clients (fax instructions). Please take note of the following:

1. Send us a fax indemnity duly signed by all the authorised signatories of the account in the format enclosed.

2. Mark "This is a fax instruction" on the face of the delivery instruction form with a view to identify the same from the original delivery instruction form received subsequently.

3. Send the original instruction form latest within two days from the date of receipt of the fax instruction. In case the original instruction form is not received within the stipulated time, the facility of executing instructions received on fax shall stand withdrawn, till the original instruction is received.

You are being advised to follow the guidelines mentioned above and send the duly signed Fax Indemnity at the earliest.