Fasttrack Impex Pvt Ltd, a subsidiary Company of the Arrow webtex Ltd shall make a Public Announcement on February 29, 2008 for acquisition of 92,43,850 Equity Shares of “Advani Hotels & Resorts India Ltd” of the face value of Rs 2/- each, fully paid up, representing 20% of the total paid up capital of the said Company under the SEBI (Substantial Acquisition and Takeover Regulations), 1997 (”Offer”). Arrow webtex Ltd would be funding upto 100% of the consideration required by Fasttrack Impex Pvt Ltd for the said offer. In view thereof, Arrow Webtex Ltd would be construed as a “person acting in concert” in relation to the Offer.