Press releasePCM Strescon signs Contract for

Railway Sleepers in the UAEKolkata, India, June 26, 2011

PCM Strescon Overseas Ventures Limited (PCM Strescon), a leading manufacturer of prestressedconcrete sleepers based in India and Saudi Arabia, have been awarded the Contractfor the setting up of a new sleeper manufacturing facility as well as the designing and

supplying of concrete sleepers for Phase One of the railway network of Etihad Rail- the266km route linking Shah, Habshan and Ruwais in Abu Dhabi’s Western Region, UAE.

The Contract was signed today by Mr. Sabyasachi Munshi, Director, PCM Strescon and Mr.Richard Bowker, CBE, Chief Executive Officer, Etihad Rail in the presence of Mr. Kamal K.Mittal, Chairman and Managing Director, PCM Strescon at a glittering ceremony held in the

Board Room of Etihad Rail, Abu Dhabi.Commenting on the award, Etihad Rail CEO Richard Bowker, said, “We are delighted to

announce that Etihad Rail will be working with PCM Strescon, a leader in the industry. Thisaward clearly highlights that we are moving full speed ahead with the railway network – one

that will transform the transport sector in the UAE.”Etihad rail has been established with a mandate to manage the development, construction

and operation of the UAE’s national freight and passenger railway network.Etihad Rail’s AED40 billion railway project is forecast - over the next two decades - to

grow to transport up to 50 million tonnes of freight and 16 million passengers per annum,connecting population centres and opening up channels for trade. When complete, the

UAE-wide network will change the way people and goods move across the Emirates, byproviding a modern, safe, efficient, and environmentally sustainable method of transport,

and will form a vital part of the GCC Railway Network.PCM Strescon will oversee and manage the design, manufacturing, maintenance andstorage of the railway sleepers that will support the network’s tracks that will carry the

trains transporting granulated sulphur for export at the port of Ruwais.About PCM Strescon

PCM Strescon are established manufacturers of pre-stressed concrete sleepers who havealready set up two factories in the Kingdom of Saudi Arabia with the world’s highest

production capacities, and have supplied more than 2.6 million sleepers to the North SouthRailways, Kingdom of Saudi Arabia. All sleepers produced by the Company in their state-ofthe-

art factories conform to the most exacting and stringent global quality standards.