UNITECH LTD. - Clarification on News Item

With reference to a Media Report regarding loan from LIC, Unitech Ltd has clarified to BSE as follows :<br/><br/>"The Company strongly urges all its stakeholders to ignore unfounded media reports. The Company would like to take this opportunity to reach out to all its stakeholders to convey that requisite steps have been taken by the Company to ensure no pendency with the Life Insurance Corporation of India that will be reflected in the financial results and/or financial statements, which are due at the end of this financial year."