Outcome of board meeting of Electrosteel Castings

Held on 10 September 2014

Electrosteel Castings announced that the Board of Directors of the Company at its meeting held on 10 September 2014, inter alia, have approved the following:

1. To offload 2,45,000 Equity Shares of the Company's investment in Singardo Singapore.

2. Noting of the letter received from Naresh Chandra intimating change in status from Independent Director to a Non-Executive Non-Independent Director.

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