Grauer & Weil - Allotment of Equity Shares

Grauer & Weil India Ltd has informed BSE that in furtherance to the communication of fixing the Record date of October 09, 2009 for determining the shareholders of Bombay Paints Ltd. (BPL) eligible for receiving shares of the Company, in pursuance to the orders of the BIFR, the Shareholders Committee of the Board of Directors in their meeting held on
October 21, 2009 have allotted 98,82,850 Equity Shares of Rs. 10/- each in Grauer &
Well (India.) Ltd. to the members of Bombay Paints Ltd. as on the record date of October 09, 2009.

These shares shall rank Pari Passu with the existing shares of the Company in all
respects. This allotment is made in pursuance to the orders passed by the Hon'ble
Board for Industrial and Financial Reconstruction (BIFR) dated July 24, 2009 and
September 11, 2009.