Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week . (July 11-16, 2005).

========================================================================================================

                                        T T & O D SELLING

                          AUTHORIZED DEALERS RATES PER ONE UNIT OF CURRENCY

--------------------------------------------------------------------------------------------------------

                                                                           + Appreciation - Depreciation

========================================================================================================

         9.7.2005                             LAST WEEK RATES

         Previous

         Week     11.7.2005     16 7.2005                                 FLUCTUATIONS IN CLOSING RATES

         Closing   Opening      Closing    Highest                 Lowest            Over Previous Week

         Rate                         Rate       Date        Rate         Date     +Up    Amount      %

         Rs          Rs        Rs      Rs                     Rs                 - Down     Rs

--------------------------------------------------------------------------------------------------------

US        59.72     59.75     59.75     59.75   11/7/2005      59.80     12/7/2005   +  0.030000    0.05

UK      103.810   104.140   104.600   104.140   11/7/2005    106.120     13/7/2005   +  0.790000    0.76

Japan  0.531900  0.534100  0.532400  0.532400   16/7/2005   0.538200     13/7/2005   +  0.000500    0.09

Euro    71.5300   71.7100   71.9600   71.7100   11/7/2005    73.0400     13/7/2005   +  0.430000    0.60

========================================================================================================

                                        T T CLEAN BUYING

                          AUTHORIZED DEALERS RATES PER ONE UNIT OF CURRENCY

========================================================================================================

         9.7.2005                             LAST WEEK RATES

         Previous

         Week     11.7.2005     16 7.2005                                 FLUCTUATIONS IN CLOSING RATES

         Closing   Opening      Closing    Highest                 Lowest            Over Previous Week

         Rate                         Rate       Date       Rate         Date      +Up     Amount     %

         Rs        Rs        Rs        Rs                    Rs                   -Down     Rs

--------------------------------------------------------------------------------------------------------

US        59.52     59.55     59.55     59.55    11/7/2005     59.60   12/7/2005     +   0.030000   0.05

UK      103.460   103.800   104.250   103.800    11/7/2005   105.760   13/7/2005     +   0.790000   0.76

Japan  0.530100  0.532300  0.530700  0.530700    16/7/2005  0.536400   13/7/2005     +   0.000600   0.11

Euro    71.2900   71.4700   71.7200   71.4700    11/7/2005   72.8000   13/7/2005     +   0.430000   0.60

========================================================================================================