Notification of Legal Proceedings - GHCL Limited Convertible Bonds

LONDON - This is a notification to holders of US$70,000,000 1 per cent Convertible
Bonds due 2011 issued by GHCL Limited (ISIN XS0229495782) (the “Bonds”):
Bondholders who hold a qualifying supermajority of Bonds issued under a Trust
Deed dated 21 September 2005 and between GHCL Limited and The Bank of New
York have retained the law firm Weil, Gotshal & Manges, One South Place,
London, EC2M 2WG, and intend to file proceedings (”Proceedings”) in the
English court for a declaration that the Bonds have become due and payable as
a result of events of default having occurred under the Conditions of the
Bonds by virtue of certain of GHCL Limited’s subsidiaries being placed in
administration and subsequently selling substantially all their assets, and
certain of GHCL Limited’s subsidiaries being placed into a reorganisation
proceeding under Chapter 11 of the US Bankruptcy Code.

If you wish to be joined to these Proceedings as a co-claimant or wish
to lodge details of your interests please contact: James Cole at Weil,
Gotshal & Manges, One South Place, London, EC2M 2WG, Tel +44-207-903-1359,
email: james.cole@weil.com as soon as possible and in any event by 23 March
2009.

Source: Weil, Gotshal & Manges LLP

Contact: James Cole at Weil, Gotshal & Manges, Tel +44-207-903-1359, email: james.cole at weil.com