Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (January 26 - 31, 2004).

========================================================================================================

                                         T T & O D SELLING

                           AUTHORIZED DEALERS RATES PER ONE UNIT OF CURRENCY

--------------------------------------------------------------------------------------------------------

                                                                           + Appreciation - Depreciation

========================================================================================================

          24.1.2004                               LAST WEEK RATES

          Previous

          Week    26.1.2004   31.1.2004                                    FLUCTUATIONS IN CLOSING RATES

          Closing  Opening    Closing     Highest               Lowest                Over Previous Week

          Rate                           Rate       Date        Rate      Date     +Up     Amount      %

          Rs          Rs         Rs        Rs                    Rs               -Down      Rs

--------------------------------------------------------------------------------------------------------

U.S       57.50     57.50     57.58     57.40   28/1/2004      57.58   30/1/2004   +    0.080000    0.14

U.K     105.000   104.970   105.040   104.210   27/1/2004    105.040   31/1/2004   +    0.040000    0.04

Japan  0.539000  0.541600  0.545500  0.541100   27/1/2004   0.545500   31/1/2004   +    0.006500    1.21

Euro    72.3400   72.2900   71.7800   71.4500   30/1/2004    72.2900   26/1/2004   -    0.560000   -0.77

========================================================================================================

                                         T T CLEAN BUYING

                           AUTHORIZED DEALERS RATES PER ONE UNIT OF CURRENCY

========================================================================================================

          24.1.2004                               LAST WEEK RATES

          Previous

          Week   26.1.2004   31.1.2004                                     FLUCTUATIONS IN CLOSING RATES

          Closing  Opening    Closing      Highest               Lowest               Over Previous Week

          Rate                         Rate       Date       Rate         Date    +Up     Amount       %

          Rs         Rs        Rs        Rs                    Rs                  -Down     Rs

--------------------------------------------------------------------------------------------------------

U.S       57.30     57.30     57.38     57.20    28/1/2004     57.38   30/1/2004    +    0.080000   0.14

U.K     104.630   104.810   104.680   103.840    27/1/2004   104.810   26/1/2004    +    0.050000   0.05

Japan  0.537100  0.539700  0.543600  0.539200    27/1/2004  0.543600   31/1/2004    +    0.006500   1.21

Euro    72.0900   72.0400   71.5300   71.2100    30/1/2004   72.0400   26/1/2004    -    0.560000  -0.78

========================================================================================================