MICO Ltd Updates on Open Offer

Citigroup Global Markets India Pvt Ltd ("Manager to the Offer"), on behalf of Robert Bosch GmbH ("Acquirer") has issued this Public Announcement to the equity shareholders of Motor Industries Company Ltd ("Target Company" / "MICO") which is in continuation of & should be read in conjunction with, the Public Announcement ("PA") dated April 27, 2007, wherein an open offer to acquire up to 6,410,292 fully paid-up equity shares of Rs 10/- each, representing 20% of the paid-up equity share capital of the Target Company at a price of Rs 4,000/- per equity share payable in cash (the "Offer"), was made under the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto (the "SEBI (SAST) Regulations"). The equity shareholders of the Target Company are requested to kindly note the following :-

1. The Offer is being made under Regulation 11(2A) of the SEBI (SAST) Regulations.

2. Under Regulation 20(7) read with Regulation 11(2A) of the SEBI (SAST) Regulations, during the offer period the Acquirer cannot acquire any shares of the Target Company, in the open market or through negotiation or in any other manner, otherwise than under the public offer.

All other terms and conditions of the Offer set forth in the PA dated April 27, 2007, remain unchanged.

Source : Equity Bulls

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