has considered and approved the merger of Buckingham Real Estate and Assets Developers (Madras) Ltd (BREAD) with the Company under Section 391 to 394 of the Companies Act, 1956. The salient features of the merger would be as follows: 1. The Appointed Date of the Scheme is March 31, 2006. 2. The share swap ratio for the merger, as determined by an independent valuer is 642 Equity Shares of the Company for each share of BREAD. The Share Capital of BREAD comprises of 50,070 Equity Shares. Based on the exchange ratio determined by the independent valuer, a total number of 3,21,44,940 fully paid Equity Shares of Rs 10/- each of the Company will be issued to the shareholders of BREAD. 3. The Merger Scheme is subject to requisite consent, approval of the requisite majority of the shareholders, lenders, creditors of the Company, the Hon'ble High Court of Judicature at Madras, and the permission or approval of any other statutory or regulatory authorities, which by law may be necessary for the implementation of the Scheme. The company has informed that pursuant to the order of the Hon'ble High Court, Madras a meeting of the equity shareholders of the Company will be held on June 01, 2006, for considering and if, thought fit, approving with or without modification, the Scheme of Amalgamation cum Arrangement proposed to be made between M/s Buckingham Real Estate and Asset Developers (Madras) Ltd and the Company and their respective shareholders. (As per BSE Bulletin dated on 10/05/2006) SSI Ltd has informed BSE that the Honourable High Court of Judicature at Madras has approved the merger of BREAD with the Company. The share swap ratio of the merger is 642 equity shares of the Company, for each share of BREAD. Over 3.2l crore fully paid equity shares of Rs 10/- each of the Company, will be issued accordingly. The merger is effective April 01, 2006. The Company, has plans to develop a 5000 apartment township in Perambur and expects to start Phase 1 comprising of 500 apartments, shortly. The company targets to roll out 1000 apartments every year over the next 5 years. In February 2003, the Company acquired a controlling stake in Aptech Ltd. In April 2003, the IT training business was combined with Aptech Ltd. In July 2004, the IT services business was merged with Scandent Solutions. In July 2005, the Company passed on majority control of Aptech Ltd by selling a substantial part of its holding in Aptech Ltd. Since the merger of the Company's Education business with Aptech and its technology business with Scandent Solutions, the Company, has been engaged in asset-based businesses that capitalise on emerging opportunities in the resurgent Indian domestic market including the Hospitality and Entertainment space. (As per BSE Annocement website dated on 13/09/2006) Trading members of the Exchange are hereby informed that the under mentioned new securities of SSI Limited (Scrip Code: 517556, ISIN No: INE362A01016) are listed and permitted for trading on the Exchange with effect from Tuesday, October 31, 2006. Securities 3,21,44,940* Equity Shares of Rs.10/- each issued to the shareholders of erstwhile M/s. Buckingham Real Estate and Asset Developers (Madras) Limited pursuant to the scheme of amalgamation of the Company. Dist. Nos. 25738881 to 57883820 * These shares are ranking pari-passu with the existing equity shares of the company. 2. Trading members may please note that 80,36,235 equity shares bearing distinctive nos. 25738881 - 33775115 issued pursuant to the scheme of amalgamation are under lock-in till October 31, 2009 and therefore these shares would not be good delivery in the market till then. The company has confirmed that these shares are issued in demat form for which necessary corporate action has been executed to have lock-in period marked in the depositoryÆs record. 3. The brief particulars of the Scheme of Amalgamation are as mentioned below: a)The Scheme of Amalgamation of the company was approved by the Hon'ble High Court of Madras vide its Order dated August 30, 2006. b)Appointed Date: March 31, 2006 c)Effective Date: April 1, 2006 d)Date of Allotment: September 27, 2006 e)Exchange Ratio - For every 1 equity shares of Rs.10/- each held in the transferor company, viz; M/s. Buckingham Real Estate and Asset Developers (Madras) Limited, 642 equity share of Rs.10/- each of the company has been issued. 4. The company's financial year ends on 30th September. (As Per BSE Notice Dated on 30/10/2006)