UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30th JUNE, 2010

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

SHARES

Listing of shares at Stock Exchange

Initially Company's shares are listed at 5 Stock Exchanges situated at Bombay, Ahmedabad, Calcutta, Madras & Delhi. Company has made application for de-listing of its shares from Ahmedabad, Calcutta, Madras & Delhi Stock Exchanges, which is pending due to compliance of certain procedural formalities. However, shares of Company will remain continuously listed at Mumbai Stock Exchange Limited. The Company complied with all the listing provisions including Corporate Governance on regular basis.

Share Department (In-house)

Physical share transfer work is done by Company's "In-house" Share Department. The shareholders are advised to send share transfer documents at following address :-

M/s. Western India Shipyard Limited,
Share Department,
P. B. No. 21, Mormugao Harbour,
GOA - 403 803.
E-mail : legal@wisl.co.in
Fax No. (0832) 2520258
Phone No. (0832) 2520252 to 2520257 (6 Lines), Extn. No. 255
Contact Person : Mr. J.C.F. Sequeira (Company Secretary)

Shareholders are advised to contact Company's In-house Share Department for physical share transfer as well as shares dematerialization

R&T Agent

The Company has appointed following Registrar & Transfer Agent for dematerialization of shares (ISIN No. INE382C01028) :

M/s. Link Intime India Pvt. Ltd.
C-13, Pannalal Silk Mills Compound,
L.B. S. Marg, Bhadup (west), MUMBAI - 400 078.
Phones (022) 25946969
E-mail : mt.helpdesk@linktime.co.in
Contract Person : Mr. Ganesh/Mr. Santosh.

However, the shareholders are advised to send DRF and other documents for demat at the share department address of the Company.

IMPORTANT INFORMATION

1) Scheme of arrangement & Compromise with several lenders

The High court of Bombay at Goa has sanctioned the Company's Scheme of Arrangement & COmpromise with its secured lenders on 15/01/2010 as amended. The Company has discharged its liabilitiesto lenders under Option-2 (OTS) at Rs. 55 crore. Pursuant to the scheme, the Company has issued 17,75,50,000 euity shares of Rs. 2/- each at par to ICICI BankLimited agregating to Rs. 35.51 crore on exercise of conversion option under Option-1 of the scheme, subject to BSE approval.

2) Debentures

The Company has redeemed its 8,46,100 12% secured non-convertible debentures (NCD's) as per the Scheme of Arrangement sanctioned by the High Court of Bombay at Goa on 23.06.2006. The debenture holders are requested to surrender the debenture certificates to the Company for cancellation as teh same has been delisted.

3) Notices

(a) The next Board Meeting will be held in July 2010.

(b) The 8th AGM of the Company will be held in September, 2010.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx