| The Board of Directors of Reliance Industries Ltd | | | | The KG D6 production ramp up is on track with |
| today proposed, subject to shareholders approval, | | | | 100% uptime achieved since the facility has gone |
| issue of bonus shares in the ratio of one share | | | | on stream on April 1st, 2009. During this time we |
| for everyshare held in the Company. | | | | have produced a cumulative of 2.7 million barrels |
| The Board also proposed interim dividend of Rs | | | | of oil and 5 billion cubic meters of gas and |
| 13 per share for the financial year 2008-09. This | | | | successfully started up 16 out of the 18 wells that |
| will result in a payment of Rs. 2,219 crore inclusive | | | | are required to achieve maximum capacity. |
| of taxes of Rs. 322 crore. Both the bonus shares | | | | Reliance has among the lowest finding and |
| and dividend will accrue to the shareholders of | | | | development costs for any deep water oil and |
| erstwhile Reliance Petroleum Ltd which has been | | | | gas development in the world – either |
| amalgamated recently with the Company. | | | | completed or under implementation. |
| RIL has completed major project in a flawless | | | | At full capacity, production from these facilities will |
| manner. We expect our track record of strong | | | | be equivalent to 40% of India’s current |
| value creation to continue. The proposal for bonus | | | | hydrocarbon production. The project remains |
| and dividend continue Reliance’s tradition of | | | | unparalleled in terms of execution despite all the |
| rewarding shareholders on a sustained basis. | | | | odds stacked against it. |
| Since its listing in 1978, total returns to Reliance | | | | The availability of gas at the government |
| Industries shareholders are 25% compounded. | | | | approved prices of $ 4.2 per mmbtu is wealth for |
| Since the demerger, Reliance Industries has | | | | millions of farmers and consumers through |
| created value of Rs. 2,47,000 crore in market | | | | improved availability of fertilizers and power. |
| capitalization. Shareholders have earned 40% | | | | The beneficial impact of reduced subsidy and |
| compounded return. | | | | imports aggregates to several thousand crore |
| During the past four years, in the period of | | | | annually. (Based on a recently concluded long term |
| significantly higher capital costs, shortage of | | | | contract of gas, RIL’s gas supply at $ 4.2 per |
| financial capital globally and constrained resources | | | | mmbtu translates into a saving of Rs. 25,000 |
| for large scale projects, Reliance has | | | | crore annually) Reliance is now the largest |
| commissioned two of its largest global scale | | | | exporter in India. Its two projects are making a |
| projects in the energy sector. | | | | meaningful contribution to the growth in industrial |
| The commissioning of these projects has created | | | | production and overall economic activity during the |
| several milestones in Reliance’s Corporate | | | | current fiscal year. |
| history. | | | | Reliance is now ready to invest for the future. It |
| Refining: | | | | has a strong Balance Sheet, large cash reserves |
| Reliance owns nearly 25% of the world’s | | | | and substantial financial flexibility owing to its |
| complex refining capacity. Reliance now operates | | | | Treasury Stock holding which have a current |
| the largest refining complex at one site globally. It | | | | value of nearly Rs. 40,000 crore. It also has |
| has enabled Jamnagar to become the refining | | | | operating experience and project execution skills |
| capital of the world. | | | | at par with global energy majors. |
| Reliance is the only company in the world to have | | | | Reliance has built new businesses and invested in |
| built two large super-size complex refineries in the | | | | globally competitive capacity consistently to |
| last decade. | | | | create value for all its stakeholders. |
| Reliance is now among the largest producer of | | | | Commenting on above, Mukesh Ambani, Chairman |
| ultra clean fuels in the world. | | | | stated “We had committed to reward our |
| Reliance is the only large refining company in the | | | | shareholders on successful completion of our two |
| world today that operates its facilities in excess | | | | world class projects. I am really delighted to share |
| of 100% of rated capacity. | | | | with you the excitement we all have in flawless |
| Upstream: | | | | execution of the upstream project which has |
| Reliance has achieved flawless execution of its KG | | | | been recognized globally as a defining |
| D6 project and has achieved a ramp up to nearly | | | | accomplishment. |
| 40 mmscmd of gas in less than 180 days from | | | | Our refinery project has also set new |
| startup. This is a new global benchmark. | | | | benchmarks and made Reliance the operator of |
| Reliance has developed the project in the shortest | | | | the largest refinery site anywhere in the world. |
| possible time despite very significant challenges in | | | | These are achievements that we should all have |
| terms of costs, availability of rigs, technical and | | | | pride in and are milestones in our journey of |
| offshore services. | | | | creating value for our shareholders”. |