Aug 30, 2008

Mascon Global to raise funds

Mascon Global to raise funds

The board of Mascon Global has decided to raise funds by issue of GDRs,
in one or more tranches, upto a total sum of US$ 60 million (including
green shoe option of US$ 10 million).

board has approved to issue international securities like FCCB / GDR /
ADR including on a stock swap basis to the extent of US$ 150 million.

This was decided at the board meeting held on 28 August 2008.