Jubilant Welcomes New Non Executive Director

Jubilant announced the proposed appointment of Mr. Shahzaad Siraj Dalal as a Non Executive Director of the Company. It is proposed that Mr. Dalal is appointed as a Non Executive Director of Jubilant for a period of three years subject to approval by shareholders at an Extraordinary General Meeting of the Company to be held on February 16, 2011 (the "EGM"). Notice of the EGM will be sent to shareholders shortly.

Mr. Dalal (age 52), is a Commerce graduate from the University of Bombay and holds a Masters in Business Administration from the Northeast Louisiana University. With around 28 years of work experience, he has wide experience in private equity across sectors such as telecom, transport, power, oil & gas, and emerging areas in real estate, technology, retail, life sciences and consumer services. He is on the board of various companies to guide their growth, plans and other strategic developments.

Presently, Mr. Dalal is Chairman and Chief Executive Officer of IL&FS Investment Advisors LLC. He is also acting as Vice Chairman of IL&FS Investment Managers Limited ("IML").

Prior to IML, he was Chief Executive Officer of asset management business of IL&FS. Within the IL&FS Group, he has undertaken various responsibilities including overall planning and raising of resources for IL&FS, its group companies and other IL&FS sponsored infrastructure projects. He has also headed the initiative for large value structured finance / transactions in leasing, project finance and privatization.

Mr. Dalal, does not hold any shares in his personal capacity in Jubilant. However, Mr. Dalal is a director of Tara India Holdings A Ltd, which holds 8,162,285 ordinary shares in Jubilant, representing 1.96% in the issued share capital of the Company.

The Board considers the appointment of Mr. Shahzaad Siraj Dalal as a Non-Executive Director to be in the interest of Jubilant and recommends the same for the appointment by the shareholders.

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