BHUSHAN STEEL LTD. - Clarifies on News Item

With reference to the news item appearing in the media dated December 01, 2014 regarding "JSW Steel to acquire Bhushan Steel Odisha Steel unit", Bhushan Steel Ltd has Clarified to BSE as under:<BR><BR>"In this connection, please refer to the fourth paragraph of news item wherein it has already been clarified i.e. "Bhushan Steel's spokesperson denied any such development".<BR><BR>Our Clarification in respect of para (a) and (b) of your letter are as under: -<BR><BR>(a) No negotiation with JSW or any other buyer has taken place.<BR><BR>(b) Our Company is not aware of any development in this connection therefore not required to file information under clause 36 of the Listing Agreement.<BR><BR>We once again denied any such development."