Assam Company - Limited Review For The Quarter Ended Mar 31, 2007

Assam Company Ltd has informed that in the limited review report of the Company for the quarter ended March 31, 2007, the Auditors of the Company have made the following observations:1(a) Pending finalization of accounts the statutory audit of the Company for the period ended December 31, 2006 could not be completed. Resultant adjustments that may arise on completion of audit and accounts for the period ended December 31, 2006 has not been considered in the accompanying statement of unaudited financial results.1(b) As indicated in Note No. 5 to the accompanying statement of Unaudited Financial Results, provision for taxation - both current and deferred tax (Deferred tax assets / liability as per requirements of Accounting Standard - 22 on Accounting for Taxes on Income issued by the Institute of Chartered Accountants of India) have not been computed and therefore not considered in the referred statement of unaudited financial results. The consequential impact of the above on net results for the quarter ended March 31, 2007 remains unascertained.