Outcome of board meeting of Mahindra Ugine Steel Company

Held on 29 April 2014

Mahindra Ugine Steel Company announced that the Board of Directors of the Company on 29 April 2014 proposed to obtain the approval of public shareholders through postal ballot and evoting on for approval of the Scheme of Amalgamation between the Company, Mahindra Hinoday Industries, Mahindra Gears International, Mahindra Investments (India) and Participaciones Internacionales Autometal Tres, S.L. (together referred to as the "Transferor Companies") and Mahindra CIE Automotive (formerly known as Mahindra Forgings) and their respective shareholders and creditors for amalgamation of the Transferor Companies with Mahindra CIE Automotive.

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