EXHIBIT 3 (VSNL LOGO) Rishabh Nath Aditya Assistant Company Secretary HQ/CS/17AGM/10104 18 September 2003 Dear Sir, Sub : Distribution Schedule of 17th AGM held on 2 September 2003 ---------------------------------------------------------------- Pursuant to clause 35 of the listing agreement with Indian Stock Exchanges, please find sent herewith distribution schedule of the Company as of date of 17th AGM held on 2 September 2003. Thanking you, Yours faithfully, For Videsh Sanchar Nigam Limited R.N. Aditya Asst. Company Secretary 1. Security Code 23624, The Stock Exchange, Mumbai, Corporate Relationship Department, 1st Floor, New Trading Ring, Rotunda Building, Phiroze Jee Jee Bhoy Towers, Dalal Street, Mumbai - 400 001. Fax No.(22) 2722061, 2721072. 2. The Secretary, Madras Stock Exchange Limited, Post Box No.183, 11, Second Line Beach, Chennai - 600 001. Fax No.(44) 524 48 97. 3. Security Code 32149, The Secretary, Calcutta Stock Exchange Assn. Ltd, 7, Lyons Range, Calcutta - 700 001. Fax No.(33) 220 25 14/28 37 24. 4. Security Code 22064, The Secretary, Delhi Stock Exchange Assn. Limited, 3/1, Asaf Ali Road, New Delhi - 110 002. Fax No.(11) 329 21 81. 5. Security Code 5251, The Asst. Manager (Listing), National Stock Exchange of India Limited, Capital Market - Listing, Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051.Fax Nos. : (22) 6598237/38. 6. Mr.Pavithra Kumar, for SEC filing requirements, Fax 1195. DISTRIBUTION SCHEDULE (TO BE MADE OUT FOR EACH CLASS OF SECURITY) VIDESH SANCHAR NIGAM LIMITED (NAME OF COMPANY) Distribution of Equity Shares as on 2 September 2003 Total nominal value of Rs.2850000000 - Nominal value of each share Rs.10.00 Total number of shares 285000000 - Paid up value per share Rs. 10.00 Distinctive Numbers from 1 to 285000000 TABLE I DISTRIBUTION OF HOLDINGS Share holding of nominal value of Share holders Share Amount - --------------------------------- ------------- ------------ Rs. Rs. Number % to Total In Rupees % to Total - --- --- ------ ---------- --------- ---------- (1) (2) (3) (4) (5) Up to 5000 81739 93.33 62445530 2.19 5001 10000 2293 2.62 17608540 0.62 10001 20000 1930 2.21 30648420 1.08 20001 30000 958 1.09 23507570 0.82 30001 40000 249 0.28 8516200 0.30 40001 50000 120 0.14 5599680 0.20 50001 100000 139 0.16 10077050 0.35 100001 AND ABOVE 152 0.17 2691597010 94.44 ----- ------ ---------- ------ Total 87580 100.00 2850000000 100.00 ===== ====== ========== ====== Table II NAME OF SHAREHOLDER AND SHARES HELD BY THE FOLLOWING viz Name of Shareholder No. of shares % to total No. of shares ------------------- ------------- ------------------------ (1) (2) (3) a) Foreign Holdings (i) American Depositories Receipt 27980326 9.82 (ii) Foreign Financial Institutions/FII 5809414 2.04 (iii) Foreign Nationals/ OCB 54355 0.02 (iv) Non-resident Indians 94444 0.03 (Persons holding Indian Passport staying abroad and persons of Indian origin staying abroad) -------- ----- Total 33938539 11.91 ======== ===== b) Govt/ (i) Life Insurance Corporation of India 13972258 4.90 Sponsored Financial Institutions (ii) Unit Trust of India 820159 0.29 (iii) Industrial Finance Corpn. of India - - (iv) Industrial Development Bank of India - - (v) Industrial Credit & Investment Corpn of - - India (vi) General Insurance Corporation of India 8164197 2.86 and its subsidiaries (vii) Nationalised Banks 101344 0.04 (viii) Government Companies/ Mutual Funds 585169 0.20 (ix) Central Government 74446885 26.12 (x) State Governments - - (xi) State Financial Corporations - - -------- ----- Total 98090012 34.42 ======== ===== c) Bodies corporate ( Not (i) Holding Company/Trust 39930 0.01 covered under (a) and (b) (ii) Subsidiary Companies/ NSDL in Transit - - (iii) Other Bodies Corporate 136624148 34.42 --------- ----- Total 136664078 47.95 ========= ===== d) Directors and their relatives as defined in Sec 6 of the NIL NIL Companies Act 1956 01.Ramchand Kewalram Popley 427057 0.15 Name of Shareholder No. of shares % to total No. of shares ------------------- ------------- ------------------------ 02. Ishwar Dayal Kanshal 250000 0.09 03. Swarn Kumar Khosla 150510 0.05 04. Hemang Raichand Dharamshi 100000 0.05 05. Chaitanya Dalmia 92353 0.03 06. Kusum Devi Jain 83913 0.03 07. Madhu Devi Saraf 79950 0.03 08. Vinod Agrawal 62000 0.02 09. Ranga Rao S H K 59000 0.02 10. D.R.Gupta 56500 0.02 11. Chirag Parikh 50027 0.02 12. Kala Subhash 30238 0.01 13. Susheela Basant 29936 0.01 14. Meena Mahendra 29634 0.01 15. Anil Kumar Gupta 26238 0.01 16. Sharada Popatlal 25086 0.01 17. Sangeeta Bang 25000 0.01 18. Suman Bang 25000 0.01 19. P C Bohra 23000 0.01 20. Sheonalli Devi Khosla 20616 0.01 21. Jagrut Pratapraj Gandhi 20000 0.01 22. Kalyan Gupta 19140 0.01 23. Vinod Chandra Jethalal Patel 18700 0.01 24. Tarun S Jain 18000 0.01 25 Saroj Agrawal 17000 0.01 26. Ashok Raj Nath 17000 0.01 27. Uday Shankar Mishra 16987 0.01 28. Laxmi Shivanand Manekar 15000 0.00 29. Sanjeev Chugh 15000 0.00 30. Rewati Raman Goenka 14762 0.00 31. Tultul Sinha 14530 0.00 32. Rajiv Memani 13000 0.00 33. Kashi Nath Memani 13000 0.00 34. Manjula S Badani 12900 0.00 35. Rustamji Hormasji Colah 12600 0.00 36. Vijay M Mahtaney 12500 0.00 37. Sunil Kumar Jain 12000 0.00 38. Shew Bhagwan Saboo 10920 0.00 39. Kapadia Jignesh Ishwarlal 10518 0.00 40. Saleem Iqbal Shervani 10500 0.00 41. Vutukuri Srinivasa Rao 10386 0.00 42. Dileep Kumar Singhal 10020 0.00 43. Lancelot Norman D'sousa 10000 0.00 44. Binit Rameshchandra Shah 10000 0.00 45. Shyam Sundar Dalmia 10000 0.00 46. Savita Arora 10000 0.00 47. Rita S Kothari 10000 0.00 48. Surya Prakash Gupta 10000 0.00 Name of Shareholder No. of shares % to total No. of shares ------------------- ------------- ------------------------ 49. Vineet Agrawal 10000 0.00 50. Ravikant Choudhary 9550 0.00 ------- ---- Total 2040071 0.71 ======= ==== Table III HOLDINGS OF OFFICE BEARERS Names of Directors, Managing Director, Chairman, President, Secretary and Manager, Official relationship to the Company Number of shares - --------------------------------------- ------------------------------------ ---------------- Mr. R N Tata Chairman NIL Mr. S K Gupta Managing Director NIL Mr. N. Srinath Director NIL Mr. Rakesh Kumar Director NIL Mr. Y S Bhave Director NIL Mr. Subodh Bhargava Director NIL Mr. Suresh Krishna Director NIL Mr. Ishaat Hussain Director NIL Mr. Kishor A Chaukar Director NIL Mr. Vivek Singhal Director NIL Mr. Ahsok Jhunjunwala Director NIL Mr. F A Vandrevala Director NIL Mr. Satish Ranade Company Secretary 1379 Certified Correct Date 19 September 2003 Company Secretary & VP (Legal) Note: Separate forms should be completed for each class of securities. Eg. Debentures, Preference shares, Equity Shares, etc. Similarly, separate forms should be completed for shares of same class which are not identical in all respects. Shares are identical in all respects only if:- i. they are of the same nominal value and the same amount per share has been called up; ii. they are entitled to dividend at the same rate and for the same period, so that at the next ensuing distribution of dividend payable on each share will amount exactly the same sum net and gross, and iii. they carry the same rights in all other respects.