This is in reference to the news item on our website on 13 January, 2003 under the headline 'ZEE STRIKES A BARTER DEAL WITH DD SERIALS IN LIEU OF PAYMENT'

Further enquiries and verifications made by us from Zee Telefilms Ltd. has revealed that the contents of the news item were not based on true facts.

Since the news item was based on a conversation with the Prasar Bharati chief executive and put out in good faith, we sincerely apologise for the inconvenience and the loss caused to the management, shareholders and the business associates of Zee Telefilms Ltd.--- Editor