Delisting of Securities of Carrier Aircon Ltd.

This is to inform that the securities of Carrier Aircon Ltd. (Scrip Code No.500079) will be struck-off (delisted) from the list of Officially Quoted Securities with effect from Friday, 3rd October, 2003 pursuant to the compliance with Clause 21(3)(a) of the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 1997 by the Acquirer (i.e. Carrier International Mauritius Ltd.)

The Acquirer has agreed to provide an exit option to the existing shareholders at Rs.100/- per share at any time during one year from the date of delisting. The shareholders who desire to opt for the exit option will have to send their shares to the undermentioned address:

MCS Ltd., 212-A, Sri Venkatesh Bhawan, Behind Panchsheel Club, New Delhi-110 049

The company has also agreed to resolve investor complaints (if any) pending and received hereafter for a period of one year from the date of delisting to the satisfaction of the Exchange.