The Stock Exchange Mumbai
Corporate Relationship Dept.
Phiroze Jeejeebhoy Towers
Dalal Street
Mumbai – 400 001.
Fax No. 2272 2037/2039/ 2041/ 20 61
Ref : Company Code No.500228.

Kind Attn.:- Mr. S.Subramanian –DCS-CRD

Dear Sir,

Sub: Board meeting to consider Declaration of Interim Equity Dividend, Payment of Arrears of Preference Dividend and to fix Record Dates.

This is to inform you that a meeting of the Board of Directors of the Company has been convened to be held on Thursday, 10th February, 2005 at 12.00 Noon at Jindal Mansion, 5A, G Deshmukh Marg, Mumbai – 400 026 to consider inter alia the following:

a) Declaration of Interim Dividend on the Equity Shares of the Company after giving effect to the Scheme of Arrangement and Amalgamation between Jindal Vijayanagar Steel Ltd.(JVSL), Jindal Iron & Steel Co. Ltd.(JISCO) and Jindal South West Holdings Ltd. (JSWHL) sanctioned by the Hon’ble High Courts of Judicature at Bombay and Karnataka("the Scheme") .

b) To consider the Payment of arrears of Preference Dividend on 10% Cumulative Redeemable Preference Shares of the Company.

c) To fix Record date for:

a. the purpose of re-organisation of equity share capital of the Company as envisaged in Part 3 of the Scheme.

b. the Payment of Interim Equity Dividend.

c. the Payment of arrears of Preference Dividend on 10% Cumulative Redeemable Preference Shares.

The above is in compliance with clause 19a and other applicable provisions of the Listing Agreement and for information of your members and all concerned.

Thanking you,

Yours faithfully,
For JINDAL VIJAYANAGAR STEEL LTD.

R P Raichur
Vice President (Secretarial) 
& Company Secretary