Kolkata, 19 March 2002

Pursuant to the approval given by the Board in its meeting held on 25 Jan 2002 for the divestment of Pharmaceuticals Business, ICI India had sought shareholders' approval through Postal Ballot. The process was completed with Hon'ble Justice G N Ray, Former Judge, Supreme Court of India, as Scrutinizer.

The shareholders of ICI India Limited have approved the divestment of the Company's Pharmaceuticals Business to Nicholas Piramal India Limited, by an overwhelming majority of 99.94%. There were 21052007 votes in favour of the resolution and 11627 against it

The result of the postal ballot was announced on 19 March 2002 at Kolkata.

For further information:

R Guha
Tel: +91 124 2540810
Fax: +91 124 2540839
E mail: r_guha@ici.com