September 01, 2005  

Notice to Stock Exchange

The Secretary / The Executive Director
Mumbai Stock Exchange
National Stock Exchange
New York Stock Exchange

Sub: Grant of Options under Dr. Reddy’s Employees Stock Option Scheme, 2002.

Dear Sir,

Pursuant to clause 25 of the listing agreement, we hereby intimate you that the Company has granted 8,300 stock options to the employees of the Company at an exercise price of Rs.5, which is the par value of the shares of the Company.

The shares covered by such options are 8,300.

The vesting period of these options is 25% options each year over a period of four years. The options may be exercised within a period of five years from the date of vesting.

Please take the above information on record.

With regards,

V Viswanath
Company Secretary