FUTURE RETAIL LTD. - Updates

Future Retail Ltd has informed BSE that the Company has executed a binding term sheet for sale of 14% stake (including approx. 1.25% holding of management team) of Future Supply Chain Solutions Limited ('FSCSL"), a subsidiary of the Company to SSG Capital Management Group. <BR><BR>The consummation of this transaction is subject to fulfilment of certain condition precedents and applicable regulatory approvals,if any. <BR><BR>Consequent to sale of 14% stake of FSCSL, the Company will continue to be holding company of FSCSL and hold majority stake of 57.4% in FSCSL. <BR><BR>Further the Company has submitted a copy of the press release dated April 06, 2016, titled "Future Supply Chain Solutions Ltd attracts PE investment 40% stake to change hands".