HINDALCO INDUSTRIES LTD. - Clarification

"This has reference to the news item that appeared in today's newspapers regarding cancellation of approval of SEZ of our Company's Aluminium Projects in Orissa.<br/><br/>In this connection, please note that the Company had initiated setting up of two Aluminium Projects, viz., Aditya Aluminium in Orissa and Mahan Aluminium in Madhya Pradesh under SEZ Scheme. Subsequently, it was observed that establishing the projects under Domestic Tariff Area (DTA) was more attractive for the Company. Accordingly, the Company decided to exit from the SEZ Scheme and established the projects under DTA.<br/><br/>The Company has not obtained any benefit under the SEZ Scheme and hence, there is no financial obligation on the Company arising from cancellation of SEZ."