Clarification On News Article In Economic Times on 27/10/2007

Please refer to a news paper article which appeared in Economic Times on 27th October 2007 under the heading "RIL eyes Arvind’s textile assets" regarding sale of assets by Arvind Mills.

Following this article, we have received several calls from various stake holders inquiring about the veracity of the news.

In the interest of the investors and other stake holders, we like to clarify that Arvind Mills has neither sold any of its assets nor does it plan to sell any of its assets to Reliance Industries Limited or any of its affiliates .

The new paper article is baseless and is entirely wrong.

Jayesh K Shah

Director & CFO