Apar Industries Ltd has informed BSE that on March 27 2008, Apar Industries Ltd has acquired 14,00,000 fully paid up equity shares of Rs 10/- each of Uniflex Cables Ltd, the target Company (UCL) at a price of Rs 42.50 per equity share by way of exercise of option for conversion of 14 Lacs Equity Warrants into Equal number of fully paid Equity Shares under Preferential Allotment. The Shares constitute 6.43% of the Post conversion paid up share capital of UCL.

In light of the public announcement issued by Apar Industries Ltd. under Regulation 10 and 12 of the Takeover Regulations on February 13, 2008 and the open offer to be made by Apar Industries Ltd pursuant thereto (”Open Offer”), this disclosure is being made under Regulation 22(17) of the Takeover Regulations.

The price of Rs 42.50 per Share paid by Apar Industries Ltd for 14 Lacs Equity Shares is less than the price of Rs 48.50 per share payable by Apar Industries Ltd under the Open Offer.

Accordingly, the above mentioned acquisition will not impact the price payable to the shareholders of UCL who tender their shares in the Open Offer.