Bambolli offer for AP Tanneries, India

12 January 2004

FEDEX Securities Ltd have, on behalf of Bambolli Holdings Pvt Ltd, made an open offer to the public shareholders of Andhra Pradesh Tanneries Ltd to pay cash for shares representing 20.04% of paid-up capital. Andhra Pradesh Tanneries are based in Nellimerla in Vizianagaram district. According to a notification to the Bombay Stock Exchange, the acquirers making the offer include Bambolli Holdings Pvt Ltd, their directors Mrs Urmilla V Pandit, Mrs Arti S Saran, Mrs Shefali S Shah and Mrs Gita R Pandit, and associate concerns (who are deemed to be persons acting in concert with the acquirers). The offer closes on March 6, 2004.

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