Rel Power to debut on BSE/NSE on Feb 11

* Reliance Power shares to be listed on the bourses on the 11th February

* Reliance Power has over 42 lakh shareholders : Largest in the world

New Delhi, February 4 2008 "�Reliance Power, part of the Reliance Anil Dhirubhai Ambani group which recently completed its largest IPO in the history of Indian Capital market, will debut on the Stock Exchanges on the 11th of February 2008, subject to all regulatory and other approvals.

The Equity Shares, offered through this IPO, will be listed on both the Bombay Stock Exchange Limited ("BSE") and National Stock Exchange of India Limited ("NSE").

Reliance Power has credited its shares to the demat accounts of the successful allottes in the IPO.

Reliance Power had carried out allotment and refund exercise post closure of the IPO in a record short time of 10 working days considering that this IPO was by far the largest in the history of Indian capital markets. Reliance Power IPO attracted over 5 million bids from all categories of domestic and international investors with aggregate commitment of over Rs 750,000 crore, as against the Issue size of Rs. 11,560 crore.

Reliance Power IPO was oversubscribed approximately 70 times. 60% of the Net Issue reserved for Qualified Institutional Buyers ("QIBs"), was oversubscribed 82.5 times, 10% of the Net Issue reserved for Non Institutional Investors was oversubscribed 159.6 times and 30% of the Net Issue reserved for Retail investors was oversubscribed 13.6 times.

With approximately 42 lakh shareholders Reliance Power will be the largest shareholder base company among the companies listed on the Stock Exchanges.

About Reliance Power Limited

Reliance Power Limited is the flagship company of the Reliance ADA Group to develop, construct and operate power generation projects. The company is currently developing 12 power projects with a combined planned installed capacity of 28,000 MW, one of the largest portfolios of power generation assets under developments.

NOTES:

Reliance Power Limited has made, an initial public offering of its equity shares which were allotted on February 1, 2008. The Company has filed the Prospectus with the Registrar of Companies, Maharashtra, Mumbai. The Prospectus is available on the website of and Securities and Exchange Board of India (SEBI) at www.sebi.gov.in and the respective websites of the BRLMs and CBRLMS at www.kotak.com, www.ibb.ubs.com/Corporates/indianipo, www.abnamroindia.com, www.db.com/India, www.enam.com, www.icicisecurities.com, www.jmfinancial.com, www.jpmipl.com, www.sbicaps.com and www.macquarie.com/in.

This Prospectus does not, however, constitute an offer to sell or an invitation to subscribe to or purchase Equity Shares offered hereby in any other jurisdiction to any Person to whom it is unlawful to make an offer or invitation in such jurisdiction. This press release is restricted and not for publication or distribution in or into the United States. This press release is not for offer or sale in the United States of any securities of the Company. The securities of the Company have not been and will not be registered under the US Securities Act of 1933, as amended, and may not be sold in the United States absent registration under the US Securities Act or an exemption from such registration. There will be no public offering of any securities of the Company in the United States. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, see the section titled 'Risk Factors' of Prospectus.