NATIONAL SECURITIES CLEARING CORPORATION LIMITED

FUTURES AND OPTIONS SEGMENT

Download Reference No. NSE/CM PT/11529 October 22, 2008

Circular No. NSCC/F&O/C&S/902

Subject: Adjustments of Futures & options Contracts in the security Pantaloon Retail (I) Ltd. (PANTALOONR)

In pursuance of Byelaws of NSCCL pertaining to Clearing and Settlement of deals, Circular no NSCC/F&O/C&S/883 dated September 10, 2008 (download reference no CMPT/11276) and Circular No NSE/F&O/116/2008 dated October 21, 2008 members are hereby informed that the settlement of futures and option contracts in the security Pantaloon Retail (I) Ltd. (PANTALOONR) on account of issue of bonus shares, shall be as under:

The ex-date in this regard shall be November 05, 2008.

The following action would be taken by the NSCCL in this regard.

1. All existing contracts in the underlying PANTALOONR i.e. contracts with expiry dates November 27, 2008, December 25, 2008 and January 29, 2009 shall expire on November 4, 2008 and shall be finally settled at the relevant settlement price.

2. The settlement price to be reckoned for the purpose of final settlement shall be the closing price of PANTALOONR in the Capital Market segment of NSE, on November 4, 2008.

3. The details of final settlement in respect of PANTALOONR shall be available in the F_PS03 and F_PS04 reports downloaded to members on November 4, 2008

4. All positions in the existing futures and options contracts on the underlying PANTALOONR shall cease to exist pursuant to the final settlement on November 4, 2008

5. The Pay in/pay out of final settlement of all F&O contracts on PANTALOONR shall be on November 5, 2008 (T+1 day).

For any further clarifications Members may contact the following officials of the Clearing Corporation:  Mr.Harpreet Chawla and Ms. Dinaz Shroff, Phone Nos. 022-26598165 Fax Nos: 26598243

Yours faithfully,

For National Securities Clearing Corporation Ltd.

Rana Usman

Manager