Reliance Industries To Acquire Malaysian Polyester Manufacturer

Reliance Industries Ltd. (RIL), India, has signed an agreement with the receivers and managers of
Hualon Corp. (M) Sdn Bhd, a Malaysia-based polyester manufacturer and exporter, whereby RIL will
acquire assets of Hualon — including 250,000 spindles for spun yarn manufacturing, 5,800
shuttleless weaving looms, processing facilities and an annual polyester production capacity of
half a million tons — for an undisclosed sum. The purchase also will include downstream textile
production capabilities at facilities in Nilai and Malacca, as well as nylon filament manufacturing

The acquisition – the second such international polyester sector acquisition by RIL following
its takeover of Germany-based Trevira in 2004 – will increase its current manufacturing capacity by
25 percent, its revenue by US$1 billion and global market share in polyester fiber and yarn by more
than 7 percent.

“Reliance celebrates its silver jubilee in polyester business with the acquisition of
Hualon,” said Shri Mukesh Ambani, chairman, Reliance Industries. “The integrated assets of Hualon
will help RIL to strengthen its position in the entire textile value chain and RIL will graduate to
become a solution provider to the global textile industry. This acquisition reiterates our strong
commitment to the growth of polyester.”

November/December 2007