Outcome of board meeting of Steel Exchange India

Held on 12 August 2015

Steel Exchange India announced that the Board of Directors of the Company at its meeting held on 12 August 2015, inter alia, has considered and approved the following:

1. Approved to acquire M/s. Lion Impex DWC-LLC a Dubai based new company as a wholly owned subsidiary.

2. Took note of the incorporation of SEIL (Hong Kong) Limited on 02 June 2015 as a wholly owned subsidiary of the Company.

3. Approved to revive www.steelexchangeindia.com, India's first e-commerce portal for Steel Industry.

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