Nestlé clarifies on news item

With reference to news item in today’s press that the Enforcement Directorate has filed prosecution against Nestlé India and some of its officials, alleging irregularities under FERA in some coffee exports to Russia during 1995-96, Nestlé India Ltd has informed BSE that it refutes the allegations that there was any irregularity in relation to the coffee exports during 1995-96. Nestlé India is professionally run and promotes the highest standards of honesty, integrity and work ethics within the organisation. All exports were done in accordance with the applicable regulations and all export proceeds have been received by Nestlé India through authorised banking channels. Appropriate action is being taken to clear these allegations against the Company and its officials.