Shiva Cement Open Offer

LKP Shares & Securities Ltd ("Manager to the Offer"), on behalf of Mr. R P Gupta, Mr. Akash Gupta, Mr. Vikash Gupta, Mrs. Preeti A Gupta, Ms. Shilpi Gupta, R P Gupta (HUF) and Unicon Merchants Pvt Ltd ("Acquirers"), has issued this Public Announcement ("PA") to the Shareholders of Shiva Cement Ltd ("Target Company"), pursuant to Regulation 10 of the Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto ("Regulations").

The Offer:

The Acquirers are making this Open Offer to all the shareholders of the Target Company (except the Acquirers) to acquire by tender upto 338,92,795 fully paid equity shares of Rs 2 each of The Target Company, representing 20% of the fully expanded equity capital and voting capital in terms of Regulation 21(1) of the Regulations on the terms and subject to conditions as set out in PA at an offer price of Rs 3.70 per fully paid up equity share ("Offer Price") plus interest of Re. 0.31 per share calculated @ 10% p.a. on Rs 3.70 from the date 90 days after November 17, 2006 i.e. from February 16, 2007 till December 20, 2007 being the scheduled date of payment of consideration ("Total offer consideration" payable in cash in terms of Regulations 20 of the Regulations ("Offer")).

Schedule of Activities:

Specified Date - October 01, 2007

Date of Opening of the Offer - November 17, 2007

Date of Closing of the Offer - December 06, 2007