PUNJABTRAC

Punjab Tractors Ltd. has informed the Exchange that the Board of Directors of the Company ( hereinafter also referred to as 'PTL' or Company) at its Meeting held on 30th July, 2008 have approved the Scheme of Amalgamation(" Scheme ") of the Company with Mahindra and Mahindra Limited ('M&M') under the provisions of Section 391 to 394 of the Companies Act, 1956. The Company is a subsidiary of M&M and M&M, directly or indirectly, holds about 64.64% of its Equity Share Capital. The Scheme is subject to the consent of the requisite majority as the case may be of the Shareholders and/or Creditors of

Punjab Tractors Ltd. has informed the Exchange with respect to the Board Meeting held on May 22, 2007 that: "In the context of divestment by major Shareholders and the related ongoing open offer, the Board of Directors has decided not to recommend any dividend on equity shares for FY 2006-2007".

Punjab Tractors Ltd. had informed the Exchange regarding the proposal of Sumitomo Corporation, Japan(an existing shareholder holding 10.41% of the paid up capital and Joint Venture Partner of Punjab Tractors Limited in Swaraj Mazda Limited) to purchase 15,73,000 equity shares of Rs.10 each held by Punjab Tractors Limited, in Swaraj Mazda Limited. The company has now informed that at their meeting held on June 24, 2005, the Board of Directors of Punjab Tractors Limited decided to accept the offer of Sumitomo Corporation, Japan to purchase 15,73,00 equity shares of Rs. 10 each (constituting appr