In accordance with the invitation sent to the Inter-Union Protest and Strike Committee of JSW S.A. on 29 April 2011, the Management Board of JSW S.A. was expecting the arrival of the community representatives today, 2 May 2011, at 9am. However, the community has once more refused to participate in the meeting.

The Board of JSW is deeply disturbed by the developments in the Company, as since the time when the protest committee initiated the collective labour dispute, and consequently a strike, no negotiations concerning the subject of the dispute, i.e. an increase in salaries, have been held.

Despite several invitations on behalf of the employer delivered to the community, the protest committee has refused to participate in the talks. At the same time, despite the invitations made by the Management Board of JSW and the ongoing talks of the PCCD, the community continues to intensify the forms of protests, announcing a work-to-rule action from 4 May 2011 and 2-hour-long strikes during every shift starting from 5 May 2011, consequently exposing the Company and the Employees to serious business losses.

Although the next meeting of the Provincial Committee for Community Dialogue is scheduled for 5 May 2011, the Management Board of JSW S.A. wishes to arrive at a compromise with the community as soon as possible. The Management Board of JSW has once more sent an invitation to the strike committee; this time the meeting will be scheduled for 4 May 2011, 11am, and will be held to present, discuss, and identify any differences in the Agreement.