Marmagoa Steel - Updates

Marmagoa Steel Ltd has informed BSE that the Company is required to publish the Unaudited Results for the Second Quarter ended September 30, 2009 by October 31, 2009. However, the Company has informed BSE that that the Company's Workers went on an illegal strike since September 29, 2009 bringing the entire operation to a standstill. All Company's efforts to restore normalcy went in vain and in order to safeguard men, materials and machinery forced the Company to declare suspension of operation followed by lock-out. Subsequently, with the intervention of the Dy. Labour commissioner the Workers Union agreed to restore normalcy with effect from October 23, 2009.

In view of this, the Company will not be able to publish the Unaudited Results for the 2nd Quarter ended September 30, 2009 on or before October 30, 2009.