Reliance is India's Most Admired Business House: Business Barons survey

Company press release, July 24, 2003

Mumbai

Reliance has emerged as the 'Most Admired Business House' for the third consecutive year in the Business Barons - TNS Mode Opinion Poll opinion poll for 2003. The results of this exclusive opinion poll appear in the latest issue of Business Barons.

Reliance was ranked number one in Management Quality, Financial Performance and Returns to Shareholders, the major parameters under which Most Admired Business Houses were judged. This opinion poll is the only annual survey of its kind, which draws a comparison of India's largest business houses.

The opinion poll, carried out by TNS Mode - the Indian affiliate of the world's second largest market research agency reflects the perceptions of the CEOs and senior managers across the country on various aspects of corporate excellence.

Reliance Industries amongst India's Top Five Most Admired Companies

Reliance Industries (RIL) has emerged as the second most admired company in India in the Business Barons - TNS Mode Opinion Poll.

Companies were judged on five parameters - Management Quality, Financial Performance, Returns to Shareholders, Growth Prospects and Company Ethics.

In Returns to Shareholders, RIL ranked number one while in Financial Performance and Growth Prospects is ranked number two, and is third in Management Quality.

Mukesh and Anil Ambani amongst India's Most Admired CEOs for the fifth consecutive year

In the TNS Mode survey of India's Most Admired CEOs, the Ambanis ranked among the Top 5 of the list.

The Ambani brothers are the only two CEOs from one business group to feature amongst India's top ten Most Admired CEOs.

The CEOs were judged on four parameters - Leadership, Integrity, Vision and Technology Orientation.

Both the Ambani brothers were among the Top 5 in all these four categories.

Sectoral Winners

This year to make inter-sector comparisons more meaningful, Business Barons sifted out the Top 10 companies to identify the most outstanding companies in 5 segments. In the Manufacturing Sector, Reliance Industries ranks sixth and in the Services Sector, Reliance Capital claimed the seventh position.

The Sub-Ranks

Sub-Ranks constitutes Sales, Profit After Tax, Net Profit Margin and Market Capitalisation which make up the over all Business Barons 500, Most Outstanding Companies ranking. These four Sub-Ranks state the largest, most profitable, most efficient and most valuable companies in India, Reliance Industries ranks second in Market Capitalisation and is at number three in Sales and Profit After Tax.

Reliance Group

The Reliance Group founded by Dhirubhai H. Ambani (1932-2002) is India's largest business house with total revenues of Rs 80,000 crore (US$ 16.8 billion), cash profit of over Rs 9,800 crore (US$ 2.1 billion), net profit of over Rs 4,700 crore (US$ 990 million) and exports of Rs 11,900 crore (US$ 2.5 billion). The group's activities span exploration and production (E&P) of oil and gas, refining and marketing, petrochemicals (polyester, polymers, and intermediates), textiles, financial services and insurance, power, telecom and infocom initiatives.

Reliance Industries Ltd.

Reliance Industries Limited (RIL) is India's largest private sector company on all major financial parameters with gross turnover of Rs 65,061 crore (US$ 13.7 billion), cash profit of Rs 7,565 crore (US$ 1.6 billion), net profit of Rs 4,104 crore (US$ 864 million), net worth of Rs 30,327 crore (US$ 6.4 billion) and total assets of Rs 63,737 crore (US$ 13.4 billion). RIL features in the Forbes Global list of world's 400 best big companies and in FT Global 500 list of world's largest companies.

RIL has emerged as the 'Best Managed Company' in India in a study by Business Today and A.T. Kearney. RIL was named in the World's Most Respected Companies list published by Financial Times based on a global survey and research conducted by PricewaterhouseCoopers. RIL also emerged as the most respected among Indian companies and amongst the 10 most respected energy and chemical companies in the world.

For details contact:

Yogesh Desai

Email: yogesh_desai@ril.com, yogeshd@ril.com

Tel: +91-22-3032-7275/+91-22-3032-7276

Fax: +91-22-2285-2212/+91-22-2287-0072

Address: Reliance Industries Limited

Corporate Communications,

Reliance Centre,

19, Walchand Hirachand Marg

Ballard Estate,

Mumbai 400 038