The company has informed that the shareholders at their court convened meeting held on May 31, 2004 have unanimously approved the Scheme ofArrangement for the demerger of the company's IT services business into Scandent Network Private Ltd, Pursuant to signing definitive agreement with the said company one share of Scandent will be issued for every share held in SSI Ltd. SSI Ltd. has informed the Exchange that the Hon'ble High Court of Judicature at Madras has passed an order for sanctioning the Scheme of Arrangement with modifications for the de-merger of the IT Services business of SSI Limited and merging the same with Scandent Network Private Limited, Bangalore. The said Scheme of Arrangement has also been approved by the Hon'ble High Court of Karnataka at Bangalore. (As per NSE Bulletin dated on 23/09/2004) SSI Ltd. has informed the Exchange that at the Board Meeting held on September 27, 2004, the Board took on record the Scheme of Arrangement as sanctioned by the Hon'ble High Court of Judicature at Madras for the demerger of IT Services business of SSI Limited and merging the same with M/s. Scandent Network Private Limited, Bangalore. The Company has also informed the Exchange that the Board has fixed the Record Date as October 20, 2004 for issue of Equity Shares of the resultant company to the eligible shareholders of SSI Limited in the ratio of one share for every one share held in SSI Limited as envisaged in the Scheme of Arrangement. (As per NSE bulletin dated on 27/09/2004) Members of the Exchange are hereby informed that, SSI Ltd. has fixed the Record Date for the purpose of Scheme of Arrangment. The transactions in the equity shares of the following companies should be done on an ex-benefit basis with effect from the undermentioned date. As per the Scheme Of Arrangement for the demerger of IT Services business of the company and merging the same with Scandent Solutions Corporation Ltd., Bangalore (SSCL) ONE equity share of SSCL will be allotted for every ONE existing equity share held. Note:- 1. The Scrip will be in the No Delivery from 12/10/2004 to 19/10/2004. (As per BSE Notice dated on 05/10/2004)