IFCI - Government Assistance

IFCI Ltd has informed BSE that Government of India vide its letter dated December 12, 2007, has informed that it would not exercise its Conversion Option in respect of its Optionally - Convertible Debentures of Rs 400 crore and Rs 523 crore at this point of time. Further, as regards the financial provision of Rs 1300 crore, Government has informed that it would assist the Company in case such a need arises.