Press release of PSOVL from Etihad railways, Abu Dhabi.

1. Press release PCM Strescon signs Contract for Railway Sleepers in the UAE Kolkata, India, June 26, 2011 PCM Strescon Overseas Ventures Limited (PCM Strescon), a leading manufacturer of prestressed concrete sleepers based in India and Saudi Arabia, have been awarded the Contract for the setting up of a new sleeper manufacturing facility as well as the designing and supplying of concrete sleepers for Phase One of the railway network of Etihad Rail- the 266km route linking Shah, Habshan and Ruwais in Abu Dhabi’s Western Region, UAE. The Contract was signed today by Mr. Sabyasachi Munshi, Director, PCM Strescon and Mr. Richard Bowker, CBE, Chief Executive Officer, Etihad Rail in the presence of Mr. Kamal K. Mittal, Chairman and Managing Director, PCM Strescon at a glittering ceremony held in the Board Room of Etihad Rail, Abu Dhabi. Commenting on the award, Etihad Rail CEO Richard Bowker, said, “We are delighted to announce that Etihad Rail will be working with PCM Strescon, a leader in the industry. This award clearly highlights that we are moving full speed ahead with the railway network – one that will transform the transport sector in the UAE.” Etihad rail has been established with a mandate to manage the development, construction and operation of the UAE’s national freight and passenger railway network. Etihad Rail’s AED40 billion railway project is forecast - over the next two decades - to grow to transport up to 50 million tonnes of freight and 16 million passengers per annum, connecting population centres and opening up channels for trade. When complete, the UAE-wide network will change the way people and goods move across the Emirates, by providing a modern, safe, efficient, and environmentally sustainable method of transport, and will form a vital part of the GCC Railway Network. PCM Strescon will oversee and manage the design, manufacturing, maintenance and storage of the railway sleepers that will support the network’s tracks that will carry the trains transporting granulated sulphur for export at the port of Ruwais. About PCM Strescon PCM Strescon are established manufacturers of pre-stressed concrete sleepers who have already set up two factories in the Kingdom of Saudi Arabia with the world’s highest production capacities, and have supplied more than 2.6 million sleepers to the North South Railways, Kingdom of Saudi Arabia. All sleepers produced by the Company in their state-ofthe- art factories conform to the most exacting and stringent global quality standards.