Singapore legislation

Regulation 2

of Securities and Futures (Market Conduct) (Exemption for Stabilising Action in respect of Dealings in Bonds) (No. 7) Regulations 2004

Regulation 2

Definitions

In these Regulations, unless the context otherwise requires —“Bonds” means the 5-year fixed rate convertible bonds due May 2009 issued by Jubilant Organosys Limited for a principal amount of up to US$40 million (including any bonds issued pursuant to an option in connection therewith of up to US$5 million), which are convertible into —

(a)

fully paid equity shares of Jubilant Organosys Limited with a par value of 5 Indian Rupees each; or

(b)

global depositary shares, where each share represents one fully paid equity share of Jubilant Organosys Limited with a par value of 5 Indian Rupees;“stabilising action” means an action taken in Singapore or elsewhere by ABN AMRO Bank N.V., Singapore branch, or any of its related corporations, to buy, or to offer or agree to buy any of the Bonds in order to stabilise or maintain the market price of the Bonds in Singapore or elsewhere.

Definition

“Bonds” means the 5-year fixed rate convertible bonds due May 2009 issued by Jubilant Organosys Limited for a principal amount of up to US$40 million (including any bonds issued pursuant to an option in connection therewith of up to US$5 million), which are convertible into —

(a)

fully paid equity shares of Jubilant Organosys Limited with a par value of 5 Indian Rupees each; or

(b)

global depositary shares, where each share represents one fully paid equity share of Jubilant Organosys Limited with a par value of 5 Indian Rupees;

Definition

“stabilising action” means an action taken in Singapore or elsewhere by ABN AMRO Bank N.V., Singapore branch, or any of its related corporations, to buy, or to offer or agree to buy any of the Bonds in order to stabilise or maintain the market price of the Bonds in Singapore or elsewhere.