Wartsila India Ltd Updates on Delisting Offer

ICICI Securities Ltd ("Manager to the Offer") on behalf of Wartsila Corporation ("Acquirer") through its wholly-owned subsidiary Wartsila Technology Oy Ab ("Person Acting in Concert" or "PAC") has issued this Corrigendum to the Public Announcement to the fully paid-up equity shareholders and consequent delisting of Wartsila India Ltd ("Target Company") which is in continuation of and should be read in conjunction with the Public Announcement ("PA") dated January 19, 2007, pursuant to a reverse book-building process in accordance with the Securities and Exchange Board of India (Delisting of Securities) Guidelines 2003 (the Delisting Proposal).

The corrigendum is being made in terms of clause 15.3 of the Public Announcement, to notify a change in the timetable specified in the Public Announcement for the reverse book-building process. The revision in the timetable is necessary as the requisite statutory approval of the Reserve Bank of India was not received in sufficient time to proceed with the book building process under the timetable as specified in the Public Announcement.

The revised timetable for the reverse book-building process is as follows:

Bid Opening Date: March 19, 2007.

Bid Closing Date: March 23, 2007.

Announcement of Exit Price and Acquirer's acceptance / non-acceptance of Exit Price: March 28, 2007.

Final Settlement Date (shares in dematerialised form): March 29, 2007.

Last Day for Shareholders of physical share certificates to tender their Shares: April 13, 2007.

Source : Equity Bulls

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