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PRESS RELEASE
January 26, 2004
PR No.20/2004

FII Investment through Participatory Notes (PNs)

This press release is being issued further to the Press Release no. PR/19/2004 issued by SEBI on January 23, 2004. It is hereby reiterated that there is no change in the policy towards FII investment in India. In order, however, to further strengthen the ‘know your client’ regime and in the interests of greater efficacy of the market, amendment is being made to the Securities and Exchange Board of India (Foreign Institutional Investors) Regulations, 1995. A copy of the Securities and Exchange Board of India (Foreign Institutional Investors) (Amendment) Regulations 2004, being notified in the Official Gazette is enclosed. A copy of this Press Release, as well as copy of the circular and draft regulations proposed to be issued / notified, are also available on our website www.sebi.gov.in