OTC EXCHANGE OF INDIA

LSTG/09/Cir-01/2009

2nd September, 2009

                                    Corporate Announcement

Scrip                   :   Associated Transrail Structures Limited (ATSL)

Subject                :   ATSL  - Updates

                 Associated Transrail Sturctures Limited has informed OTCEI

                 that of the merger Associated Transrail Structures Ltd.(ATSL)

                 with Gammon India Ltd.(GIL) effective from July 07, 2009.

                 The Scheme provides for a swap ratio of 2:1 equity shares i.e.

                 2(two) equity shares of Rs. 2/- each of Gammon India Ltd

                 (the “Transferee Company”) as fully paid up for every 1 (one)

                 equity shares of Rs.10/- each of Associated Transrail

                 Structures Ltd.(the Transferor Company).

Announcement    :

                 With reference to the above it may be noted that the Company

                 has fixed  September 03, 2009 as the ‘Record Date’ of the

                 erstwhile ATSL for the purpose of ascertaining the eligibility

                 of Shareholders of ATSL who would be entitled to receive the

                 shares of “Gammon India Limited’ in the approved swap ratio

                 of 2:1 consequent upon the merger.

                 .

Yours faithfully,

Munesh Goel

Managing Director (O)