Cadila makes Carnation open offer at Rs 150/shr

ICICI Securities, on behalf of Cadila Healthcare, has made an open offer to acquire up to 11,15,020 shares of Carnation Nutra Analogue Foods
(representing 20% of the paid-up capital of Carnation) at Rs 150 per share.

According to a release issued by Cadila to the BSE today, the specified date for the offer is March 31, 2006.