Reliance Petroleum Ltd - PRESS RELEASE

Reliance Petroleum Ltd has informed BSE regarding a Media Release dated October 21, 2008 titled "RPL refinery achieves 97% overall progress"

Press Release:

"Reliance Petroleum Ltd ("RPL") has achieved 97% overall progress with rapid advancement on all implementation fronts of its complex petroleum refinery, coming up in a Special Economic Zone at Jamnagar in Gujarat, India.

Construction is nearing completion and the focus has now shifted from mechanical completion to start-up. Several primary, secondary process systems and treatment units have been completed and pre-commissioning & commissioning trials of static and rotary equipments, electrical distribution and instrumentation systems are underway.

Logistics infrastructure to handle crude and products, such as tankfarm, blending systems and other storage systems, are already commissioned. Various automation systems, distributed control systems, safety & loss prevention systems are also up and running Support facilities like Plant interface buildings, laboratory, fire and safety infrastructure, administration facilities, IT network, and township are also ready. Utilities such as water, air, nitrogen, electrical power etc, are all ready to support smooth and sate commissioning of the various process units.

During the quarter, RPL surpassed several significant milestones as follows:

• Over 5,645 equipments installed and interconnecting piping completed.
• Pre-commissioning progress close to halfway mark.
• Operations preparedness activities including training, O&M contracting, manuals and procedures writing and catalyst procurement completed
• Critical power, utilities, storage and logistics facilities ready and commissioned along with support infrastructure

While Global refining fundamentals continue to remain robust, RPL derives its competitive advantage from its large scale, higher complexity, capability to process a wide range of crude oils and flexibility to produce high quality transportation fuels catering to various international markets.

Commenting on the project progress Shri. Mukesh D Ambani, Chairman of RPL said, "RPL is poised to set a new benchmark in project execution in the refining industry, through the commissioning of its large, complex and flexible refinery. RPL is uniquely positioned to successfully capture the exciting opportunities in the refining sector and create significant value for its shareholders