Reliance Communications - Allotment of Equity Shares on

Reliance Communications Ltd has informed that the Allotment Committee of the Board of Directors of the Company has, pursuant to requests received from the holders of Zero Coupon Foreign Currency Convertible Bonds (FCCBs) of USD 1,000 each, allotted 2,06,602 equity shares of Rs 5 each at a predetermined premium of Rs 475.68 per equity share on December 07, 2007.

The allotted equity shares as aforesaid shall rank pari passu in all respect with the existing equity shares of the Company and shall be entitled for full dividend, if declared for the financial year 2007-08.

Consequent upon the said allotment, the paid-up capital of the Company stands increased to 206,13,02,001 fully paid-up equity shares of Rs 5 each.