Mumbai… January 2, 2003… CRISIL Limited, India's leading Ratings, Financial News, Risk and Policy Advisory company announced that they are making strategic equity investment in National Commodities Exchange Limited (NCDEX).

According to Mr. R. Ravimohan, MD and CEO, CRISIL "CRISIL would take 12.1% of the equity share capital of NCDEX and the amount of investment would involve around Rs.2.662 crores."

He added, "The equity investment links the need for CRISIL, the leader in Information Services business for providing specialized services for the various players in the commodities market.

The commodities market worldwide is much bigger than the equity markets and India should witness a similar trend. NCDEX is committed to become one of the largest commodity exchanges in India. NCDEX has already commenced trading in bullions and expected to introduce a number of other commodity products in the near future."

This equity investment would not only be synergistic for the current business, but would throw open a number of new opportunities, such as to introduce Member Ratings and Warehouse Ratings, extending CRISIL Market Wire, the real time news services for the commodities market and providing Risk Management services for the players in the commodities market.