Ingersoll Rand (India) Ltd.

Ingersoll Rand (India) Ltd. had informed the Exchange regarding parent company viz. Ingersoll-Rand Company, USA had on July 30, 2007 announced that it has agreed to sell its worldwide utility equipment, attachments and bobcat business units to Doosan Infracore. The Company has now informed the Exchange vide its letter dated September 07, 2007 that "The Board of Directors of the Company has at its meeting held today agreed, subject to the approval of the shareholders, to sell, transfer, assign or dispose of the utility equipment, attachments and bobcats business (collectively referred to as the "Business") of the Company comprising of all fixed assets, movable assets and other assets and liabilities including manpower, contracts, licences, permits, consents and approvals, whatsoever, relating to the Business, to a subsidiary company (being incorporated in India) of Doosan Infracore Co. Ltd., Republic of Korea or any of its group companies / associates (the "Purchaser"), as a "going concern" by way of slump sale for an aggregate consideration of Rs.1,031 million. Requisite approval from the shareholders as per the provisions of Sections 293(1)(a), 192A and other applicable provisions of the Companies Act, 1956 read with Companies (Passing of the Resolutions by Postal Ballot) Rules, 2001 is being obtained. The results of the postal ballot will be announced at the Extraordinary General Meeting to be held on October 22, 2007." "The Business will be transferred to the Purchaser on completion of all necessary statutory compliances, from such date as may be agreed to between the Board of Directors of the Company and the Purchaser in the best Interest of the Company".