Nikhil Nanda takes charge as joint MD of Escorts

Mumbai, September 19, 2007: At the Board Meeting of Escorts Limited held today, Mr. Nikhil Nanda, Director and Chief Operating Officer has been elevated to the position of Joint Managing Director of the company. In his new role, he will lead the operations of the company and will drive the business growth initiatives of Escorts.

Mr. Nikhil Nanda has been the Executive Director of the company since May 2000 and later in October 2005 he had taken over the additional role of Chief Operating Officer. As the ED & COO he has been instrumental in strategically positioning Escorts in the global arena. Very successfully he has been driving the expansion program of the construction equipment business, the fastest growing business of Escorts, through its subsidiary Escorts Construction Equipment Limited.

To further consolidate the leadership position of Escorts in construction equipment business, he has been driving the setting up of a green field project at Ballabhgarh for manufacturing a whole range of construction equipment. On completion, this facility will provide a multiplier growth to the business top line of Escorts. In his endeavour of offering best in class technology and products from the stable of Escorts, he has successfully concluded arrangements for technology for several new products like forklifts, tower cranes, crawler cranes, loaders with technology front runners like Doosan, IHI, Weihai Huata, ALTEC.

The third generation of the entrepreneurial family, Mr. Nikhil Nanda (33 years) is an alumnus of Wharton School of Management, USA. Having graduated in Business Administration in 1995, he had joined Escorts in 1997 and possesses complete understanding of the company business and its prospects. He is a member on the Board of most Group companies since 1997. He is also among the five Indians selected as the Global Leaders of Tomorrow for the year 2001 by the World Economic Forum, Geneva.

About Escorts Limited:

Escorts Limited is a leading manufacturer and supplier of Agri Machinery Products, Auto Suspension and Ancillary Products and Railway Equipment. Its broad product portfolio includes:

· Agri Machinery Products Tractors · Industrial Engines · Spare parts and Components of Axles and Transmissions · Auto Suspension / Ancillary Products Shock Absorbers · Telescopic Front Forks · McPherson Struts · · Railway Equipment Shock Absorbers for Rolling Stock Couplers - Semi permanent and Automatic · Braking systems - Vacuum, Air and Electro-Pneumatic · Composite Brake Blocks