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Videsh Sanchar Nigam (VSND)


Friday 18 August, 2000

Videsh Sanchar Nigam

ADR Listing on NYSE

Videsh Sanchar Nigam Limited
18 August 2000

           Sub : VSNL ADRs Listing on The New York Stock Exchange

This is to inform you that VSNL has made the debut in the U.S. Capital Market by
listing on New York Stock Exchange (NYSE) on 15th August, 2000. VSNL has
registered a Level-2 ADR offering which signifies the termination of the
existing Global Depositary Receipts (GDRs) facility and converting the GDRs into
American Depository Receipts (ADRs) by giving a termination notice to the
existing holders of GDRs in accordance with the Deposit Agreement. Each GDR will
be exchanged for ADR on a one to one basis meaning thereby that each ADR will
represent half a share of VSNL. The company's ADRs are traded on the NYSE under
ticker symbol VSL.


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