HCL Technologies takes over Aquila Technologies

17th February 2005: HCL Technologies Ltd today announced that it has acquired the balance 43% in Aquila Technologies Ltd, India, thus making it a 100% subsidiary of the company. The acquisition has been made through Shipara Technologies - a 100% subsidiary of the Company. Aquila is a Bangalore-based software solutions provider in the areas of Engineering software and services like CAD/CAE PDM/CPC, virtual engineering frameworks, visualization, image processing and computer game development.

Adani Port Infrastructure Ltd. to buy 2.96mn shares or 20% stake in Everest

15th February 2005: Adani Port Infrastructure Ltd. told the National Stock Exchange today that it was making an open offer to buy 2.96 million shares, or a 20% stake, in Everest Industries Ltd. at Rs 147 per share. The offer is not conditional on any minimum level of acceptance and will be open from March 18 to April 6. Shares in Everest were down 1.6% at Rs 151 in a slightly weak Bombay market.

Siemens Board decides acquiring stake in SPCNL & SSSPL

15th February 2005: Siemens Ltd has informed BSE that the Board of Directors of the Company at its meeting held today, has taken the following decisions: -

1. Acquisition of 100% stake in Seimens Public Communication Networks Pvt Ltd, Bangalore (SPCNL):

The Board of Directors has decided to acquire 100% stake i.e. 12,425,000 Equity Shares of Rs 10 each in SPCNL, from Siemens AG, Germany along with its nominee, for a total consideration of Rs 1950 million (i.e. approx Rs 156.94 per share) as reduced by the dividend for the year ended September 30, 2004 received or receivable by Siemens AG and further reduced by the amount of dividend, if any, declared by SPCNL for the period after September 30, 2004 and received by Siemens AG. This transaction is subject to all applicable statutory and regulatory approvals.

SPCNL is engaged in the business of provider of network equipment including supply, design and installation. The Portfolio comprises of Wireline, Transmission, Access, Mobile & IP Products, etc.

2. Acquisition of 51% stake in Siemens Shared Services Pvt Ltd, Bangalore (SSSPL):

The Board of Directors has decided to acquire 51% stake i.e. 2,123,800 Equity Shares of Rs 10 each in SSSPL, from Siemens Shared Services LLC, U.S.A. / Siemens AG and nominees, for a total consideration of Rs 111 million (i.e. approx. Rs 52.26 per share). This transaction is subject to all applicable statutory and regulatory approvals.

Siemens Information Systems Ltd, a 100% subsidiary of the Company, holds balance 49% capital of Siemens Shared Services Pvt Ltd.

SSSPL is presently engaged in the business of providing back office and customer contact services to Siemens operating companies in U.S.A.