News about Hindustan Motors Limited - National Stock Exchange of India Limited

August 18, 2006

The media had reports that Hindustan Motors Ltd. has appointed HDFC Ltd as advisors for sale of about 300 acres of the 740 acres of its land at the Uttarpara plant in West Bengal for which State Government's permission has been sought.

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.

Hindustan Motors Ltd. has vide its letter inter-alia stated, " We state that clarification on issue related to the proposed arrangement for putting the excess vacant land at Uttarpara Plant to alternate use has been given to the Stock Exchanges on a number of occasions, the last such clarification having been made on 13th January, 2006. Since then, there has been no material development in the matter except appointment of HDFC as a Consultant ".

Source: National Stock Exchange of India Limited

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