Essar Global Limited (EGL) has investment interests in the Infrastructure sector, Telecommunication & Technology and Industrial Construction and Engineering. The group has its offices in. U.S.A, U.K., Middle East, India, Singapore and China. Essar Global employs over 15,000 people and has an asset base in excess of US $ 6 billion.

EGL announced the restructuring of its businesses in shipping, terminalling and logistics. In order to provide a sharper focus to its business and increase shareholder value, the Company has formed a fully owned subsidiary, Essar Shipping and Logistics Limited (ESLL), registered in Cyprus.

As per the re-organization plan of the shipping business, ESLL will have three operating companies under its umbrella:

1. Essar Shipping Ltd. (ESL) - 77% owned by ESLL, Essar Shipping is a leading sea transportation company, with a special focus on transportation solutions for the global energy business. A strong management team of experienced marine professionals steers the company, maintaining intense customer focus, world class operations, an impressive safety record and consistent financial performance. The Company owns a modern fleet of 27 vessels, including VLCCS, tankers and bulk carriers. The Company has long standing relationships with major global and Indian oil companies like Shell, Exxon Mobil, Chevron BP Aramco, Texaco, Bharat Petroleum and Indian Oil Corporation. The Company is ISO 9000:2000 and ISO 140001 certified and has been recognized as the "Safest Indian Shipping Company" by DG Shipping, India in 2004.

2. Essar Logistics Ltd (ELL) - Fully owned subsidiary of ESLL will carry out the business of logistics management, transshipment and port services. The Company specialises in the handling, storage distribution and movement of cargo by sea, road and rail.

3. Vadinar Oil Terminal Ltd (VOTL) - Fully owned subsidiary of ESLL will focus on ports and terminals. VOTL has set up a 32 million tonne terminal facility in Vadinar, Gujarat, India, which will be operational by the end of September,2006. Vadinar port is an all weather, deep draft port, and will serve major oil refineries and traders in the region.

The reorganization will make ESLL a leading integrated logistics provider for steel mills, oil refineries and thermal power generation companies across the world.

Mr. Sanjay Mehta will assume the responsibility of CEO of Essar Shipping & Logistics Ltd. and continue as Managing Director of ESL. Mr. A.R. Ramakrishnan who is currently Chief Operating Officer has been inducted into the Board of ESL as an Executive Director and will be designated CEO.

About Essar Global
Essar Global Limited investments in Infrastructure portfolio comprises of investments in :

Essar Steel Limited : The largest integrated producer of steel in Western India, with a capacity of 4.6 million tonnes per annum, with plans to set up manufacturing facilities in Qatar, Sharjah and Trinidad.

Essar Oil Limited : A leading integrated oil major involved in Exploration & Production, Refining and Retailing of petroleum products.

Essar Power Limited : Power generation capacity close to 1000 MW with plans to increase capacity to 2500 MW and enter transmission and distribution

Essar Shipping and Logistics Limited : Leading sea logistics solutions provider involved in sea transportation, ports and terminalling activities.

Telecommunication & Technology : Investment portfolio comprises of investments in Hutchison Essar provides cellular services in association with Hutchison Whampoa, Hong Kong.

Aegis Communications is an integrated customer solutions provider in BPO and IT.

Industrial Construction and Engineering : Investment portfolio comprises of investment in Essar Construction - one of India's foremost engineering, procurement and construction specialists.