OREANDA-NEWS. February 24, 2012. Reliance Industries Limited ("RIL") today announced that its wholly-owned subsidiary Reliance Holding USA, Inc. priced a USD 500 million reopening of its existing 5.400% Guaranteed Senior Notes due 2022 (the "Additional Notes"). The Additional Notes will be consolidated and form a single series with the USD 1,000 million 5.400% Guaranteed Senior Notes due 2022 (the "Notes") and will be fully and unconditionally guaranteed by RIL.

The transaction was approximately 7.5 times over-subscribed with an order book aggregating USD  3.73 billion from high quality investor accounts. This transaction priced through secondaries with support from nearly 213 accounts in Asia, Europe and the United States participating in the transaction.

The Additional Notes priced at 325 basis points over the 10-year US Treasury Note, at a price of 101.018% to yield 5.267%. The Additional Notes will bear fixed interest of 5.400% per annum, with interest payable semi-annually in arrears. Reliance Holding USA, Inc. will apply the net proceeds to fund its ongoing capital expenditure, to make business investments, to refinance its existing debt and for general corporate purposes.

In terms of geographic distribution, the Additional Notes were distributed 31% in Asia, 19% in Europe and 50% in the United States. The Additional Notes were distributed to high quality fixed income accounts: 69% to fund managers, 11% to government agencies, 8% to private banks, 7% to banks and 5% to insurance funds.

Mr. V. Srikanth, Joint Chief Financial Officer of RIL, commented, "This is a very successful reopening following a landmark bond offering concluded recently. We are delighted to see the strong demand from long term real money accounts and sovereign owned funds across Asia, Europe and the US."

Barclays Capital, Citigroup Global Markets Inc., and The Hongkong and Shanghai Banking Corporation Limited acted as joint bookrunners and lead managers.

These materials are not for distribution (directly or indirectly) in or to the United States, New Zealand, South Africa or Japan. They are not an offer for sale of securities, nor a solicitation to purchase or subscribe for securities, in the United States, New Zealand, South Africa or Japan or any other jurisdiction where such offer, sale or solicitation would be unlawful. Further, these materials do not constitute an offer to the public of securities in India within the meaning of the Indian Companies Act, 1956 or any other applicable statutes, rules and regulations of India. The securities have not been registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. The Company does not intend to register any part of the offering in the United States or to conduct a public offering of securities in the United States.