94GL Bk. America 30

RNS No 7201q
CESC LIMITED
13th August 1997

The following is a preliminary announcement of the result of the Company's
operations for the year ended 31st March, 1997 :

                                        1996/97             1995/6
                                            Rs.                Rs.

GROSS INCOME                     1406,85,40,161     1199,65,09,553

EXPENDITURE (INCLUDING
             DEPRECIATION)       1365,49,41,249     1110,01,05,554

PROFIT BEFORE TAX AND 
CONTINGENCIES RESERVE
APPROPRIATION                      41,35,98,912       89,64,03,999

LESS: INCOME TAX PROVISION                    -                  -

APPROPRIATION TO 
CONTINGENCIES RESERVE               6,00,67,192        2,67,33,079

PROFIT AFTER TAX AND 
CONTINGENCIES RESERVE
APPROPRIATION                      35,35,31,720       86,96,70,920

BALANCE OF PROFIT BROUGHT
FORWARD FROM THE PREVIOUS
YEAR                               23,89,43,421       12,08,31,971

BALANCE AVAILABLE FOR
DISPOSAL                           59,24,75,141       99,05,02,891

APPROPRIATIONS

DEBENTURE REDEMPTION RESERVE        2,27,03,700       40,00,00,000

CAPITAL REDEMPTION RESERVE         12,00,00,000                  0

GENERAL RESERVE                    10,00,00,000       20,00,00,000

DIVIDEND ON PREFERENCE
SHARES @ 13.5%                      1,62,00,000          78,33,699

DIVIDEND ON PREFERENCE
SHARES PROPOSED @ 16%                 79,89,041             66,849

DIVIDEND ON EQUITY
SHARES PROPOSED @ 20%               9,94,62,050        14,36,58,922

TAX ON DIVIDEND                     1,07,45,109                   0

SURPLUS CARRIED TO
BALANCE SHEET                      21,53,75,241        23,89,43,421

                                   59,24,75,141        99,05,02,891

Dividends on the paid-up Preference and Equity Share Capital of the Company as
on 31st March, 1997 as recommended by the Board and if declared at the
forthcoming Annual General Meeting to be held on 18th September 1997, at
Calcutta will be payable subject to the provisions of Section 206A of the
Companies Act, 1956 to those members who are entitled to such dividends and
whose names appear on the Company's Register of Members at the close of business
on 1st September, 1997, in respect of their holdings in the aforesaid paid up
share capital of the Company and Dividend Warrants will be issued on and from 
20 October, 1997. Distribution of such dividends to the non-resident
shareholders will be made as early as possible thereafter on receipt of the
necessary approval of Reserve Bank of India.

                             NOTICE

Notice is hereby given that the Board of Directors of this Company have decided
to recommend confirmation of dividend paid @ 13.5% per annum on 1,20,00,000
13.5% Cumulative Redeemable Preference Shares and also recommend payment of the
following dividends for the year ended 31 March, 1997 on the paid-up Share
Capital of the Company as on the aforesaid date:

(i)      on 50,00,000 16% Cumulative Redeemable Preference Shares 
         @ 16% per annum on a pro-rata basis.

(ii)     On 4,33,77,849 Equity Shares fully paid-up as on 1st April,
         1996 @ 20% or Rs. 2 per share.

(iii)    Pro-rata, proportionate to the amount paid-up on 155,46,978
         Equity Shares partly paid-up as on 1st April, 1996/allotted
         during the year (the dividend) will be paid only after
         payment of dues on allotment and/or call, if any).

The aforesaid dividend on the paid up Share Capital, if declared at the
forthcoming Annual General Meeting of the Company to be held on 18 September,
1997 will be payable at the prescribed rates and subject to the provisions of
Section 206A of the Companies Act, 1956 to those members whose names appear on
the Company's Register of Members at the close of business on 1 September, 1997.
As already notified the Register of Members of the Company at Calcutta will
remain closed from 2 September, 1997 to 18 September, 1997 (both days 
inclusive) and during this period registration of transfer of shares will remain
suspended.

By Order of the Board
Subhasis Mitra
Secretary

Registered Office:

CESC House
Chowringhee Square
Calcutta 700 001


END

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