Corporate Announcement  (Feb 25 , 2011)


Sub: Intimation about the lapse of warrants allotted in Indiabulls Wholesale Services Limited (‘the Company’)

Dear Sirs,

We wish to inform you that the holders of 35,75,000 warrants have informed the Company about their unwillingness to exercise these warrants at an exercise price of Rs. 105.09 per warrant (out of which Rs. 26.27 was paid-up). In view thereof, 35,75,000 warrants allotted to them now stands lapsed.

You are requested to take the above information on record.

Thanking you,

Yours truly,
For Indiabulls Wholesale Services Limited