March 23, 2007

N O T I C E

Members are aware that The Calcutta Stock Exchange Association Limited in accordance with its Demutualisation Scheme is required to divest a minimum of 51% of its shares to the public other than shareholders having trading rights within 29^th August, 2007 for which purpose the Exchange had already appointed M/s. PricewaterhouseCoopers Pvt. Limited as its Consultants. The Exchange has since constituted a high level Empowered Committee of eminent people headed by a former Secretary to the Govt. of India for giving directions and guidance to the Consultants as also to the Exchange officials for successful completion of this programme within the given time frame.

The Empowered Committee along with representatives of the Consultants will meet the members of the Exchange on 28^th March, 2007 at 4.30 P.M. in the Trading Hall of the Exchange at 7, Lyons Range, Kolkata – 700 001 to apprise the shareholders of the progress in the divestment process and also to invite their comments/suggestions in the matter for successful completion of the Demutualisation programme.

All members are requested to kindly make it convenient to attend the meeting.

( P. K. Ray )

Officer-on-Speical Duty