With reference to the above and your letter of February 10, 2000, we would like to inform the Exchange as follows:-
1. There is no material development in our company's business and affairs that has not been previously disclosed.
2. We are not aware of any impending change in the major shareholders of our Company.
3. To the best of our knowledge, there are no other reasons to account for the unusual market action.
We would advise that none of the situations/events mentioned in your letter, could have contributed to the unusual market action in our Company's shares. We are also not aware of any rumour or report that may have an effect on the trading of our Company's securities.