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Vedanta Resources (VED)

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Monday 02 October, 2006

Vedanta Resources


Vedanta Resources PLC
02 October 2006


                                                           Vedanta Resources plc
                                                              16 Berkeley Street
                                                                  London W1J 8DZ
                                                       Tel: +44 (0) 20 7499 5900
                                                       Fax: +44 (0) 20 7491 8440


                                                                  2 October 2006

                        VEDANTA RESOURCES PLC ANNOUNCES                         

                  SUCCESSFUL ACQUISITION OF STERLITE GOLD LTD.                  

                             AND EXTENSION OF OFFER                             

Vedanta Resources plc ('Vedanta') announced today that it has been successful in
its bid to acquire Sterlite Gold Ltd. (TSX: SGD) ('Sterlite Gold') under its
offer (the 'Offer') dated August 25, 2006, made through Twin Star International
Limited ('TSI'), an indirect wholly-owned subsidiary of Vedanta, for all of the
outstanding common shares of Sterlite Gold not already owned by TSI or its
affiliates, excluding those common shares held by U.S. shareholders, on the
basis of C$0.258 in cash per common share. As of September 30, 2006, a total of
67,553,844 common shares of Sterlite Gold were deposited under the Offer,
representing approximately 56.64% of the outstanding common shares of Sterlite
Gold (on a fully-diluted basis).

All of the conditions to the Offer have been satisfied or waived and TSI has
taken up all of the Sterlite Gold common shares validly deposited and not
validly withdrawn under the Offer. Payment for such common shares will be made
on or before October 4, 2006. After giving effect to the take up of common
shares by TSI under the Offer and together with the common shares already owned
by TSI, Vedanta holds, through TSI, a total of 213,593,502 common shares of
Sterlite Gold, representing approximately 80.51% of the outstanding common
shares of Sterlite Gold (on a fully-diluted basis).

Vedanta is extending its Offer to allow time for the remaining Sterlite Gold
shareholders to tender their common shares to the Offer and to allow time for
the satisfaction of certain applicable United States regulatory requirements in
order to permit Vedanta to extend the Offer to Sterlite Gold shareholders in the
United States. The Offer, as extended, will now expire at 5:00 p.m. (Toronto
time) on October 31, 2006, unless further extended. A notice of extension will
promptly be mailed to those Sterlite Gold shareholders to whom the Offer to
Purchase and Circular was originally sent. Subject to applicable securities
laws, any common shares subsequently validly deposited to the Offer must be
taken-up and paid for by TSI within ten days of the deposit of such common
shares. Vedanta, through TSI, may acquire the remaining Sterlite Gold common
shares not deposited to the Offer by compulsory acquisition or other subsequent
acquisition transaction.

Sterlite Gold shareholders are advised to read the Notice of Extension, the
Offer to Purchase and Circular, the Directors' Circular and related documents
which have been filed with the Canadian securities regulatory authorities as
they contain important information. Shareholders may obtain a copy of the
materials at SEDAR from

Further information regarding Vedanta Resources plc or Twin Star International
Limited can be obtained by contacting:

Sumanth Cidambi                    [email protected]      
Associate Director - Investor      Tel: +44 20 7659 4732 / +91 22 6646 1531
Vedanta Resources plc                                                 
Faeth Birch                                                           
Robin Walker                                                          
Finsbury                           Tel: +44 20 7251 3801              

About Vedanta Resources plc

Vedanta Resources plc is a FTSE 100 diversified metals and mining group. Its
principal operations are located throughout India, with further operations in
Zambia and Australia. The major metals produced are aluminium, copper, zinc and
lead. For further information, please visit


The Sterlite Gold Offer is not being, and will not be, made in any jurisdiction
where not permitted by law. This communication shall not constitute an offer to
sell or the solicitation of an offer to buy, nor shall there be, any sale of
securities in any jurisdiction in which the Sterlite Gold Offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.

This press release contains 'forward-looking statements' - that is, statements
related to future, not past, events. In this context, forward-looking statements
often address our expected future business and financial performance, and often
contain words such as 'expects,' 'anticipates,' 'intends,' 'plans,' 'believes,'
'seeks,' 'should' or 'will.' This information is based upon certain material
factors and assumptions that were applied in drawing a conclusion or making a
forecast or projection as reflected in the forward-looking statements, including
that the Sterlite Gold Offer will be made to United States shareholders. Since
forward-looking statements are based on assumptions and address future events
and conditions, by their very nature they involve inherent risks and
uncertainties. Actual results relating to, among other things, our financial
condition and prospects, could differ materially from those currently
anticipated in such statements by reason of factors such as the behaviour of
financial and metals markets including the London Metal Exchange, fluctuations
in interest and or exchange rates and metal prices; from future integration of
acquired businesses; and from numerous other matters of national, regional and
global scale, including those of a political, economic, business, competitive or
regulatory nature. This list is not exhaustive of the factors that may affect
any of our forward-looking statements contained in this release. These and other
factors should be considered carefully and readers should not place undue
reliance on our forward-looking statements. We do not undertake to update our
forward-looking statements.

                      This information is provided by RNS
            The company news service from the London Stock Exchange

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