NOTICE

Reg: The Investor Welfare Scheme of the Company (IWS)

The Company, as a measure of investors welfare, had an accident insurance scheme for its investors introduced in 1989 and continuing till now. In the initial period the scheme was well appreciated by the investors. However, the scheme has lost its relevance in the present environment and hence being discontinued w.e.f 2^nd October, 2004.

The investors are requested to lodge their claim , if any, with Company, within 30 days from the date of accident if it occurs during the validity of the scheme. Any claim under the said scheme for any such event taking place on or after 2^nd October, 2004 will not be entertained.

Pune Dated : 21st September, 2004

By Order of the Board of Directors, R. SRIRAMAN Sr. Vice President (Legal) & Company Secretary