Navin Fluorine CDM Project gets UNFCCC Approval

* Navin Fluorine's Clean Development Mechanism (CDM) Project, India's third largest Carbon Credit deal, gets UNFCCC approval

* The CDM project to reduce Green House Gas Emissions by 2.8 million tonnes per annum uses abatement technology by Ineos Fluor Ltd., UK

* Company expects to generate cashflows from FY 2008

Navin Fluorine International Limited (NFIL) today announced that it's CDM Project for generating 2.8 million tonnes of Carbon Emission Reductions has been approved by UNFCCC (United Nations Framework Convention on Climate Change). The company had initiated the CDM Project to reduce green house gas emissions in June 2006 by introducing abatement technology provided by Ineos Fluor Ltd., UK.

Speaking on the occasion of the approval Mr. Vinesh Sadekar, MD, Navin Fluorine International Limited, said: "This is an important milestone in the speedy implementation of our CDM project. Our project is expected to be commissioned in June 2007 and revenues are expected to flow in from FY 2008.

About Navin Fluorine International Limited: Navin Fluorine International Limited (NFIL), part of the Arvind Mafatlal Group, is the largest and one of the few integrated fluorochemicals complexes, manufacturing and marketing bulk and speciality fluorochemicals. The company primarily focuses on three businesses "� Refrigeration gases, Chemicals/Bulk Fluorides and Specialty Organofluorines with manufacturing facilities at Surat, Gujarat and Dewas, Madhya Pradesh. Navin Fluorine has an impressive clientele consisting of several fortune 500 companies which include five of the top ten global crop protection companies and three of the top ten global chemical companies.

In the domestic business Navin Fluorine's customers include some well known names like Ranbaxy, Matrix, Aurobindo, Hetero, Orchid, Lupin, UPL, Gharda, PI, etc.

In June 2006, Navin Fluorine and INEOS Fluor reached an agreement on Clean Development Mechanism (CDM) project to reduce green house gas emissions.