Orissa Sponge Iron & Steel Ltd has informed BSE that Industrial Promotion and Investment Corporation of Orissa
Ltd (IPICOL) has withdrawn the nomination of Mr. L.D. Sahoo, as Director from the Board of the Company with immediate effect.

Further, IPICOL has nominated Mr. S. N. Nayak as Director in the Board of the Company with immediate effect.

The Board of Directors has noted and accepted the same vide Resolution by Circulation dated March 22, 2011.