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Vedanta Resources (VED)

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Tuesday 19 June, 2007

Vedanta Resources

Pricing of Sterlite ADS

Vedanta Resources PLC
19 June 2007

                                                                    19 June 2007

                             Vedanta Resources Plc
             Pricing of Global ADS Offering by Sterlite Industries

Vedanta Resources plc announced that its Indian subsidiary, Sterlite Industries
(India) Limited ('Sterlite') has today priced its global ADS offering. The text
of the release issued by Sterlite is reproduced below.

                                START OF RELEASE

MUMBAI, INDIA, June 19, 2007 - Sterlite Industries (India) Limited (BSE:
STERLITE IN; NSE: STER) ('Sterlite'), India's largest non-ferrous metals and
mining company based on net sales in fiscal 2007, announced that it has priced
its initial public offering of 130,440,000 of its equity shares in the form of
American Depositary Shares, or ADS, at a price of $13.44 per ADS. These equity
shares in the form of ADSs represent an approximately 18.9% interest in Sterlite
post-offering. Sterlite's ADSs have been approved for listing on the New York
Stock Exchange under the symbol 'SLT.'

The underwriters and joint global coordinators and bookrunners for the offering
are Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co.
International plc and Citigroup Global Markets Inc. (the 'Representatives').

Nomura Singapore Limited is the underwriter for a public offering without
listing in Japan ('Japanese Offering') of 11,500,000 of Sterlite's equity shares
in the form of ADSs, which were allocated to the Japanese Offering from the
global offering.

After this offering, Sterlite will have approximately 689 million equity shares

All of the equity shares in the form of ADSs were sold by Sterlite. Sterlite has
granted the Representatives an option to purchase up to an additional
19,560,000 equity shares in the form of ADSs to cover over-allotments, if any.
The share and percentage numbers above assume no exercise of this option.

A copy of the prospectus relating to this offering may be obtained by contacting:

Merrill Lynch, Pierce, Fenner & Smith Incorporated
4 World Financial Center
New York, N.Y. 10080
Attention:  Prospectus Department (4th Floor)

Morgan Stanley & Co. Incorporated
180 Varick Street
New York, New York 10014
Attention: Prospectus Department
or by email at [email protected]

Citigroup Global Markets Inc.
Brooklyn Army Terminal
140 58th Street
8th Floor
Brooklyn, NY 11220
or call 718-765-6732

About this Press Release; Forward-Looking Statements

This press release shall not constitute an offer to sell or the solicitation of
an offer to buy securities, nor shall there be any sale of Sterlite's equity
shares in the form of ADSs, in any jurisdiction, including the United States, in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of such jurisdiction.

                                 END OF RELEASE

For further information, please contact:
Sumanth Cidambi                            [email protected]
Associate Director - Investor Relations    Tel:+44 20 7659 4732/+91 22 6646 1531
Vedanta Resources plc

Faeth Birch                                Tel:+44 20 7251 3801
Robin Walker

About Vedanta Resources plc

•edanta Resources plc is a London listed diversified metals and mining group.
Its principal operations are located throughout India, with further operations
in Zambia, Australia and Armenia. The major metals produced are aluminium,
copper, zinc, lead, iron ore and gold. For further information, please visit


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.' Forward-looking statements by their nature address
matters that are, to different degrees, uncertain. For us, uncertainties arise
from 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. These uncertainties may cause our
actual future results to be materially different that those expressed in our
forward-looking statements. We do not undertake to update our forward-looking

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

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