Following currency fluctuations took place in foreign exchange rates during the last week (June 14 to June 19, 2004).

========================================================================================================
                                         T T & O D SELLING
                           AUTHORISED DEALERS RATES PER ONE UNIT OF CURRENCY
--------------------------------------------------------------------------------------------------------
                                                                           + Appreciation - Depreciation
========================================================================================================
          12.06.2004                               LAST WEEK RATES
          Previous
          Week     14.06.2004   19.06.2004                                 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
--------------------------------------------------------------------------------------------------------
US        57.98     57.98     58.10     57.98   14/6/2004      58.10   19/6/2004    +   0.120000    0.21
UK      105.370   105.220   106.780   105.220   14/6/2004    106.780   19/6/2004    +   1.410000    1.34
Japan  0.526300  0.523500  0.534300  0.523500   14/6/2004   0.534300   19/6/2004    +   0.008000    1.52
Euro    69.6500   69.4300   70.5500   69.4300   14/6/2004    70.5500   19/6/2004    +   0.900000    1.29
========================================================================================================
                                         T T CLEAN BUYING
                           AUTHORISED DEALERS RATES PER ONE UNIT OF CURRENCY
========================================================================================================
          12.06.2004                              LAST WEEK RATES
          Previous
          Week    14.06.2004  19.06.2004                                   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
--------------------------------------------------------------------------------------------------------
US        57.78     57.78     57.90     57.77    18/6/2004     57.90   19/6/2004    +    0.120000   0.21
UK      105.010   104.860   106.410   104.860    14/6/2004   106.410   19/6/2004    +    1.400000   1.33
Japan  0.524500  0.521700  0.532400  0.521700    14/6/2004  0.532400   19/6/2004    +    0.007900   1.51
Euro    69.4100   69.1900   70.3100   69.1900    14/6/2004   70.3100   19/6/2004    +    0.900000   1.30
========================================================================================================