Kolkata, 11th November 2010: The Economic Times, Mumbai edition of today carried a news on the front page under the caption “Sebi fines Guj NRE Coke for insider trading”. The Company wishes to clarify that the said caption is misleading as SEBI has neither levied any fine or penalty on Gujarat NRE Coke Ltd. It is further clarified that the said SEBI order does not mention of any insider trading in the shares of Gujarat NRE Coke Ltd.

Mr Arun Kumar Jagatramka, promoter of the group said that “the order passed by SEBI on Mr G L Jagatramka, two promoter companies and myself, is totally unfair and unjust. These two promoter companies, Marley Foods Pvt Ltd & Matangi Traders & Investors Pvt Ltd which had acquired 3.5 lac shares, during the quarter ended September 2005 have never sold these shares. He further stated that we will appeal against the said unjust order of SEBI before Securities Appellate Tribunal (SAT).

For more information please contact:

Mr P R Kannan, Chief Financial Officer at +(91) 9836074444