GULF OIL CORPORATION LIMITED                            
                 DISTRIBUTION OF SHAREHOLDING AS ON 30/09/2004                    
                        QUARTER ENDING REPORT - SUMMARY                           
          Category               No. No. of shares held Total Shares % of  
    Holders Physical Depository Holding  
 A.  Promoter's Holding              
 1.  Promoters                                           
                
 a.  Indian Promoter's              0 0 0 0.00  
 b   Foreign Promoters   *         2 6800980 0 6800980 49.03  
 2   Persons acting in Concert**    0 0 0 0.00  
                    SUB - TOTAL    2 6800980 0 6800980 49.03  
 B.  Non-Promoters Holding            
               
 3.  Institutional Investors                             
                
 a   Mutual Funds and UTI          1 0 482301 482301 3.48  
 b.  Banks, Financial Institut     11 60990 846073 907063 6.54  
     ions, Insurance Companies            
      (Central / State Govt. I            
     nstitutions / Non- Govern            
     ment Institutions)                   
 c.  FIIs                       *     0 0 0 0.00  
                    SUB - TOTAL    12 60990 1328374 1389364 10.02  
 4.  Others                                              
                
 a.  Private Corporate Bodies      252 49533 2999781 3049314 21.98  
 b.  Indian Public             47056 681093 1040932 1722025 12.41  
 c.  NRIs / OCBs             *     37 3794 906270 910064 6.56  
 d.  Any Other (Plese Specify)         0 0 0.00  
             SUB - TOTAL         47345 734420 4946983 5681403 40.95  
            GRAND TOTAL          47359 7596390 6275357 13871747 100.00  
*    TOTAL FOREIGN SHAREHOLDINGS IN NUMBER IS 7711044 AMOUNTING TO  55.59    
     PERCENT & THERE IS NO GDR & ADR HOLDINGS IN ABOVE MENTIONED COMPANY              
                    
**   PERSONS ACTING IN CONCERT IS Nil                                
                                                                                    
                          GULF OIL CORPORATION LIMITED                            
        DISTRIBUTION OF SHAREHOLDING 1.00% ABOVE SHARES AS ON 30/09/2004          
                        QUARTER ENDING REPORT - DETAILED                          
 Category                                                                       % of
Sl.No. Folio             Name of shareholder                      Shares Holdings
 b   Foreign Promoters                                           
     1 0008525           NN INVESTMENTS BV                       3925980 28.3
     2 0054987           GULF OIL INTERNATIONAL (MAURITIUS)      2875000 20.73
                    CATEGORY WISE TOTAL                          6800980 49.03
 B.  Non-Promoters Holding      
        
 3.  Institutional Investors                         
        
 a   Mutual Funds and UTI                                        
     1 IN30081210489362  ADMINISTRATOR OF THE SPECIFIED UNDE      482301 3.48
                    CATEGORY WISE TOTAL                           482301 3.48
 b.  Banks, Financial Institutions, Insurance Companies (Ce      
         ntral / State Govt. Institutions / Non- Government Ins    
     titutions)                                      
     1 IN30081210000502  NATIONAL INSURANCE COMPANY LTD                168739 1.22
     2 IN30081210000560  THE ORIENTAL INSURANCE COMPANY LIMI           156220 1.13
     3 IN30081210001728  THE NEW INDIA ASSURANCE COMPANY LIM           312750 2.25
                    CATEGORY WISE TOTAL                          637709        4.6
 4.  Others                                          
        
 a.  Private Corporate Bodies                                    
     1 IN30010011753144  HINDUJA TMT LIMITED                           678575 4.89
     2 IN30015910110397  AASIA MANAGEMENT   CONSULTANCY LTD            900376 6.49
     3 IN30015910241504  AASIA MANAGEMENT   CONSULTANCY LTD.           169175 1.22
     4 IN30015910248350  AASIA MANAGEMENT   CONSULTANCY LTD.           624170 4.5
                    CATEGORY WISE TOTAL                              2372296 17.1
 b.  Indian Public                                               
     1 IN30015910241483  ASHOK PARMANAND HINDUJA                       200000 1.44
                    CATEGORY WISE TOTAL                                200000 1.44
 c.  NRIs / OCBs                                                 
     1 IN30015910227740  HELVETIA  MAURITIUS LTD                       397103 2.86
     2 IN30015910249834  IAM LIMITED                                   400000 2.88
                    CATEGORY WISE TOTAL                                797103 5.74