Released on = June 26, 2007, 4:52 am

Press Release Author = Polymerupdate

Industry = Chemicals

Press Release Summary = Strategic tie - up of NCDEX with Polymerupdate.com

Press Release Body = Futures contracts in 3 most versatile Polymers viz
Polypropylene (PP), Linear Low density Polyethylene (LLDPE) & Polyvinyl Chloride
(PVC) were launched for trading on the NCDEX platform by Shri Mukesh D. Ambani, CMD,
Reliance Industries Limited on the 16th of April 2007. Since then NCDEX has received
encouraging responses from the Industry participants as well as other market
participants who actively contribute in the derivatives markets.

With a motive to discover and disseminate real time prices for Polymers in India by
actual trading in futures contracts and to provide the availability of this risk
hedging tool to the entire value chain of the Polymer Industry, NCDEX has been
continuously attempting to inform and educate the Polymer Industry to understand and
come forward to hedge the risk that they have always been carrying due to volatility
in prices.

Moving forward in this endeavor NCDEX today said that they were proud to announce a
strategic tie - up with a leading online Polymer information portal
www.polymerupdate.com.

Polymerupdate, provider of real time news and price alerts has grown to become a
preferred destination for local as well as global players seeking plastics and
petrochemical intelligence. Polymerupdate subscribers include most of the regions
leading resin producers, processors, traders, consultant firms, investment bankers,
credit rating agencies, as well as renowned international information services,
news, and media companies who access polymerupdate for gaining superior market
knowledge.

Mr. Shrikant S., Chief Business officer, NCDEX said, \" this tie - up would
strategically integrate the Polymer industry with the Derivative market participants
as Polymerupdate would showcase almost real time prices of polymers been traded on
NCDEX platform are at the same time provide current happenings in the Polymer domain
across the globe, thereby catering to the requirements of all market participants
and provide a synergizing effect\".

Commenting on the benefits of plastics futures trading, Mr. Sajjid Mitha, CEO and
Founder of polymerupdate.com said, \"in order to insulate producers and consumers
from the adverse effects of pricing volatility on their margins, a hedging tool is
an imperative. The NCDEX plastics futures provide just that and must become a
routine part of every industry participant~s daily business life, with immediate
effect.\"

Mr. Mitha said, \"for polymerupdate to be associated with a renowned commodities
exchange entity like NCDEX is a great honour. I am certain that a large number of
our subscribers will benefit greatly from their membership of the exchange. Plastics
futures trading will pick up in India and before long converters will see the
immense advantage of hedging their risks using this most valuable risk management
tool.\"


National Commodity & Derivatives Exchange Limited (NCDEX) is a professionally
managed on-line multi commodity exchange promoted by ICICI Bank Limited (ICICI
Bank), Life Insurance Corporation of India (LIC), National Bank for Agriculture and
Rural Development (NABARD) and National Stock Exchange of India Limited (NSE).
Canara Bank, CRISIL Limited (formerly the Credit Rating Information Services of
India Limited), Goldman Sachs, Indian Farmers Fertiliser Cooperative Limited (IFFCO)
and Punjab National Bank (PNB) by subscribing to the equity shares have joined the
initial promoters as shareholders of the Exchange. NCDEX is the only commodity
exchange in the country promoted by national level institutions. This unique
parentage enables it to offer a bouquet of benefits, which are currently in short
supply in the commodity markets. The institutional promoters and shareholders of
NCDEX are prominent players in their respective fields and bring with them
institutional building experience, trust, nationwide reach, technology and risk
management skills.

NCDEX is a public limited company incorporated on April 23, 2003 under the Companies
Act, 1956. It obtained its Certificate for Commencement of Business on May 9, 2003.
It commenced its operations on December 15, 2003.

Web Site = http://www.polymerupdate.com

Contact Details = polymerupdate.com
344, A - Z Industrial Estate,
G. K. Marg, Near Peninsula Park,
Lower Parel, Mumbai - 400013
Maharashtra, INDIA
Tel: (91-22) 30408821 - 25
Fax: (91-22) 30408826
e-mail: info@polymerupdate.com