MICO - Outcome of Board Meeting

Motor Industries Company Ltd (MICO) has informed that the Board of Directors of the Company at its meeting held on December 06, 2007, inter alia, has transacted the following business:

1. Recommend to the shareholders change in the name of the Company from Motor Industries Company Ltd to Bosch Ltd, subject to the approval by the shareholders and the Central Government.

2. Extended the term of Mr. M Lakshminarayan, Joint Managing Director for a period of six (6) months from July 01, 2008 up to December 31, 2008.

3. Appointed Dr. Manfred Duernholz as Additional Director and Joint Managing Director of the Company from February 01, 2008 to December 31, 2011.

4. Accepted the resignation of Dr. A Hieronimus Managing Director of the Company from the close of January 31, 2008 upon his assuming a senior responsibility within the Bosch Group outside of India. However, Dr. Hieronimus will continue as Non Executive Director of the Company.

5. Accepted the resignation Mr. H Zimmerer. He will step down as Director and Chairman of the Board of Director of the Company, from the close of December 31, 2007.

6. Re-designated Mr. V K Viswanathan, Joint Managing Director as Managing Director and as spokesman of the Company with effect from February 01, 2008.

7. In order that the Company continues to benefit from the experience of Dr. Hieronimus, appointed Dr. Hieroninius as Chairman of the Board with effect from February 01, 2008.

8. Decided to convene an Extra Ordinary General Meeting of the members of the Company to be held on January 07, 2008.