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Spark Capital Advisors (I) Pvt Ltd (”Manager to the Offer”) on behalf of TVS Investments Ltd (”Acquirer”) has issued this Public Announcement to the shareholders of TVS Finance & Services Ltd (”Target Company”), which is in continuation of & should be read in conjunction with the original PA dated March 10, 2008, in respect of the proposed acquisition & consequent delisting of the equity shares of the Target Company pursuant to & in compliance with the Securities & Exchange Board of India (Delisting of Securities) Guidelines, 2003 (”Guidelines”).

The Delisting Offer opened on March 26, 2008 & closed on March 28, 2008 for the shareholders holding shares in dematerialised form.

1. The price of the Equity Shares discovered as per the Guidelines (”Discovered Price”) is Rs 25 per Equity Share, at which the maximum number of Equity Shares have been tendered under the Book Building Process.

2. The Acquirer accepts the Discovered Price of Rs 25 per Equity Share as the Price for acquisition of the Equity Shares (”Exit Price”). Consequently, the Acquirer shall accept all the bids at or below the Exit Price & the equity shareholders who have tendered their Equity Shares at or below the exit Price will be paid consideration at the Exit Price of Rs 25 per equity Share.

3. The settlement of funds will be according to the timelines specified in the PA, Equity Shares which have been tendered at a price exceeding the Discovered Price of Rs 25 will be returned to shareholders on or before April 04, 2008.

4. The Acquirer will initiate necessary steps to delist the equity shares of the Company from BSE & Madras Stock Exchange (MSE).

5. The Acquirer will be pleased to accept the Equity Shares from the shareholders holding the Equity Shares in physical form at the Exit Price of Rs 25 per Equity Share till April 17, 2008.

6. The Acquirer undertakes to accept the Equity Shares held by the remaining shareholders including those whose bids were rejected due to reasons specified in para 3, at the Exit Price of Rs 25 per Equity Share for a period of 6 months from the date of delisting of the equity shares from BSE & MSE in terms of the Guidelines.

Spark Capital Advisors (I) Pvt Ltd (”Manager to the Offer”) on behalf of TVS Investments Ltd (”Acquirer”) has issued this Public Announcement (”PA”) to the shareholders of TVS Finance & Services Ltd (”Target Company”) in respect of the proposed acquisition of up to 42,34,588 fully paid-up equity shares (the Equity Shares) & delisting of the Target Company, pursuant to the Securities and Exchange Board of India (”Delisting of Securities”) Guidelines 2003 (the “Guidelines”) (the “Delisting Offer”).

The Offer

The Acquirer is proposing to acquire up to 42,34,588 fully paid-up Equity Shares of the Company held by the public shareholders, including the shareholdings of Directors & Relatives representing 10.23% of the fully paid-up share capital of the company. The Acquirer seeks to delist the equity shares of the Company pursuant to the voluntary delisting procedures set out in the Guidelines for the reasons set out in paragraph 1.3 of PA.

The shareholders of the Company have approved the delisting of Equity Shares of the Company through a Special Resolution passed at the Extraordinary General Meeting of the shareholders of the Company held on March 07, 2008.

The equity shares are currently listed on the Bombay Stock Exchange Ltd (BSE) & the Madras Stock Exchange Ltd (MSE) (the “Stock Exchanges”). The Acquirer is seeking to delist the equity shares of the Company from both the Stock Exchanges.

The floor price has been computed as Rs 20.29 which is higher of (a) the average of the daily closing prices on the BSE for the last 26 weeks prior to the date of this PA, being Rs 20.18, & (b) the average of the weekly highs & lows of the closing prices on the BSE for the 26 weeks preceding the date of this PA, being Rs 20.29.

The Acquirer shall announce its decision to either accept or reject the Discovered price & the Exit Price, in accordance with the timetable set out in this PA.

Schedule of Activities:

Public Announcement - March 10, 2008

Bid Opening Date (10.00 a.m.) - March 26, 2008

Bid Closing Date (3.00 p.m.) - March 28, 2008

Announcement of Exit Price & Acquirer’s Acceptance / non-acceptance of Exit Price - April 01, 2008

Final Settlement Date (Shares in Dematerialised form) - April 02, 2008

Last day for shareholders of physical share certificates to tender their Equity Shares - April 17, 2008

Final Settlement Date (Equity Shares in Physical Form) - April 29, 2008

TVS Finance & Services Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 07, 2008, inter alia, have accorded the Board to voluntarily delist the Company’s equity shares from Bombay Stock Exchange Ltd (BSE) and Madras Stock Exchange Ltd (MSE) on which the Company’s equity shares are presently listed.

TVS Finance & Services Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 09, 2008, has approved the following:

1. Delisting of the equity shares of the Company from the Bombay Stock Exchange Ltd and Madras Stock Exchange pursuant to a delisting offer in accordance with the securities and Exchange Board of India (Delisting of Securities) Guidelines, 2003.

2. An Extra Ordinary General Meeting of the shareholders of the Company has been convened to obtain their approval for the proposed delisting of Equity Shares on March 07, 2008.