Equity shares and convertible debentures of Zee Telefilms Ltd. can now be purchased up to 30 per cent of its total paid up equity capital and each series of convertible debentures through primary market and stock exchanges subject to certain conditions. The company has passed a resolution at its board and general body meetings agreeing for the purchase of its equity shares and convertible debentures by foreign institutional investors up to 30 per cent of its issued and paid up capital through primary and stock exchanges. It may be mentioned that in terms of the Government of India's press release dated April 4, 1997 and June 22, 1998 the aggregating ceiling of FIIs' investment in Indian companies had been raised from 24 per cent to 30 per cent of their issued and paid up capital.

Alpana Killawala
General Manager

Press Release : 1998-98/32

List `A'

Companies in which investment by FIIs is allowed upto 30% subsequent to passing of resolutions to this effect in their Board of Directors and Annual General Body meetings.

1. Housing Development Finance Corporation Ltd.
2. Infosys Technologies Ltd.
3. Mastek Ltd.
4. Asian Paints (India) Ltd.
5. The Paper Products Ltd.
6. Orchid Chemicals and Pharmaceuticals Ltd.
7. Polyplex Corporation Ltd.
8. Satyam Computers Services Ltd.
9. Gujarat Ambuja Cements Ltd.
10. Ranbaxy Laboratories Ltd.
11. Capital Trust Ltd.
12. The Credit Rating Information Services of India Ltd.
13. Garware Polyester Ltd.
14. Jyoti Structures Ltd.
15. Zee Telefilms Ltd.