DLF - Updates on Buy Back Offer

JM Financial Consultants Pvt Ltd (Manger to the Buy Back) on behalf of DLF Ltd ("Target Company") has issued this Public Announcement to the Equity Shareholders / Beneficial Owners of the equity shares of the Target Company, which is in continuation of and should be read in conjunction with the Public Announcement ("PA") dated September 30, 2008 , published on October 02, 2008 & the Corrigendum to the PA dated October 15, 2008, published on October 16, 2008 & upon such terms as were set out in the PA & the Corrigendum. This PA is regarding completion of Buy-back offer in compliance with Regulations 19(7) of the Securities & Exchange Board of India (Buy-Back of Securities) Regulations, 1998. A. The Buyback: 1. The Target Company had announced the Buy-back ("Buy- Back") of its fully paid up equity shares of Rs 2 each ("Equity Shares") pursuant to the provisions of Section 77A, 77AA and 77B of the Companies Act, 1956 read with Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998, as amended, resolution of the Board of Directors of the Company dated July 10, 2008. 2. In accordance with the PA and the Corrigendum, the Buy-back was commenced on October 17, 2008 and was closed with effect from May 06, 2009, subject to completion of all payout formalities. No orders for the Buy-back were placed on or after May 04, 2009. B. Details of the Buy-back 1. The Company has purchased an aggregate of 76,38,567 Equity Shares pursuant to the Buy-back and Company has already extinguished 76,36,567 Equity Shares till date and is in the process of extinguishing further 2,000 Equity Shares. 2. The total amount invested in the Buy-back is Rs 140.69 crore. Till the date of closure of the Buy-back, the Company had utilised 12.79% of the Maximum Offer Size authorized for the Buy-back. 3. The price at which the Equity Shares were bought back under the Buy-back was dependent on the price quoted on the Bombay Stock Exchange Ltd and the National Stock Exchange of India Ltd. The average price at which such Equity Shares were bought back is Rs 184.19 per equity Share. 4. Pursuant to the Buy-back, the Company has bought back less than 1% (one percent) of the total number of outstanding Equity Shares. Therefore, the requirement for disclosure of the identity of the shareholders or beneficial holders of Equity Shares from whom Equity Shares exceeding 1% (one percent) of the total number of outstanding Equity Shares were bought back, is not applicable. Capital Structure The Capital structure of the Company pre and post Buy back is as under: Issued, subscribed and paid up share capital - Pre Buy back (as on September 25, 2008) 1,70,48,32,680 equity shares - Rs 340.97 crore less Calls in arrear Rs 0.004 crore Post Buy-back (as on May 04, 2009) 1,69,71,94,113 equity shares* - Rs 339.44 crore less Calls in arrear Rs 0.004 crore assuming extinguishment of 2,000 equity Shares. There are no outstanding instruments convertible into Equity Shares except the following as on March 31, 2009 Employee Stock Options Outstanding (Convertible into equal number of Equity Shares) - 55,29,335 number of Options. Outstanding and exercisable on the date of this Public Advertisement - Nil