P R E S S R E L E A S E

FALCON TYRES SUSTAINS GROWTH, INCOME INCREASES 40%

Kolkata, 29 January 2010: Falcon Tyres Ltd, a Ruia Group company, has sustained its spectacular growth in the quarter ending 31 December 2009. In the meeting of its board of directors held today in Kolkata, the company reported a 40% growth in its total revenue on a year on year quarterly basis. The total income for the period has been Rs 166.66 crore as against Rs 119.15 crore in the corresponding quarter last year. The Net Profit for the period has risen to Rs 11.65 crores from Rs 0.61 crore in Q3, FY 08-09, registering a gigantic leap of 1812%. The Falcon Tyres scrip, with face value of Rs 5, was quoted at Rs 152 at the closing of BSE trading today.

Commenting on the results, Ruia Group Chairman Mr Pawan K Ruia said: “Falcon has started reaping the benefits of continuous expansion of its capacity. Since signing a Technical Aid Agreement with Sumitomo Rubber Industries of Japan in 2007 the Company has increased its capacity to 900,000 tyres per month and commissioned a 6MW co-generation plant at its Mysore plant. Looking at the growth potential of 2-wheeler tyres, the plant capacity is being augmented by another 500,000 tyres per month.”

For clarifications, please contact Mr D Nandi [98310 56023]

FALCON TYRES LTD l Regd Office l 50 Residency Road l Bangalore 560 025

Issued by Corp Comn Divn of RUIA GROUP

Ruia Centre l 46 Syed Amir Ali Avenue l Kolkata 700 017 l Phone 2289 4747