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NEST* RELEASE
SUCCESSFUL Y2K ROLL-OVER FOR THE NSDL DEPOSITORY SYSTEM

The entire NSDL-depository system performed normally when its business partners got connected on January 3, 2000. The system processed various depository-related instructions without being affected by any Y2K related problem. The transaction volumes recorded on January 3, 2000, were of the same order as are experienced on any other normal business day. Settlements scheduled for the exchanges during the day were successfully completed. Neither NSDL nor any of its business partners experienced any Y2K related problem during and after the rollover from 1999 to 2000.

Mumbai
January 3, 2000

NEST = * National Electronic Settlement and Transfer