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Raising of additional long term resources in the international market Press kit

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20 June, 2007

The Committee of Directors, at its meeting held on June 20, 2007, has in principle approved, subject to such other approvals as may be required, raising of additional long term resources of US$ 450 million, excluding Green Shoe option by issue of appropriate securities in the international markets, on terms to be decided by the Board/Committee of the Board in due course.

The said funds are being raised to meet the capital and product development expenditure related to Company’s growth projects in its Commercial Vehicle Business Unit and Passenger Car Business Unit and for such other corporate purposes as may be permitted under applicable laws.

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