Clarification Statement re Specialist Energy Group

McNally Bharat Engineering Company Ltd

Clarification statement re Specialist Energy Group plc

McNally Bharat Engineering Company Ltd ("MBE" or the "Company"), one of the leading engineering companies in India, notes that in an article published in the press on Friday 17 June, 2011 one of its executives was reported as saying that in relation to the Company's shareholding in Specialist Energy Group plc ("SEG"), "this is a purely strategic investment and we don't want to raise our stake beyond 29.9%". MBE confirms that whilst it is not currently considering any transaction regarding SEG, it does not wish for the purposes of the Takeover Code to restrict its future flexibility.

Accordingly, no particular course of action has been determined nor has anything been ruled out.

MBE owns 8,501,166 ordinary shares in SEG, equivalent to 23.94% of the issued share capital.

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