Pyramid Saimira - Kotecha doesn't hold any shares

"We are getting queries from investors regarding current position of Mr. Nirmal Kotecha in the Company.

We want to clarify the investor community that as per his latest disclosure received by the company and intimated to the stock exchanges, presently Mr. Nirmal Kotecha is not holding any share in the company and he has resigned from the board of directors with effect from November 17, 2008.

Hence he is no more a person belonging to promoters group or a Person Acting in Concert."