Revised Public Announcement

For the Attention of the Shareholders of 

BALWAS e-COM INDIA LIMITED  

Registered Office: A K Industrial Estate, Veer Savarkar Flyover, S. V. Road, Goregaon (West), Mumbai – 400 062, Maharashtra, India

(Telephone No.: (022) – 2-878-6600; Fax No.: (022) – 2-878-3939;

E-mail address: info@balwase-com.com; and Website: www.balwase-com.com  

This revised Public Announcement is in continuation to and should be read in conjunction with the Public Announcement that appeared in this newspaper on Thursday, January 2, 2003. The shareholders of Balwas e-Com India Limited may please note the following: 

1.      The clause “4.” under the heading, “H. Other Terms of the Offer” should be read as under: 

“The LoF, FoA and FoW will be available on SEBI’s website: http://www.sebi.gov.i/ from the offer opening date i.e. Monday, February 17, 2003. Shareholders can download FoA and / or FoW for making application or withdrawing the earlier application as the case may be. This is an alternative available to the shareholders. ”

2.      The clause “6.  Basis of Acceptance” under the heading, “H. Other Terms of the Offer” should be read as under: 

“In the event that the equity shares tendered in the open offer exceed the total number of equity shares offered to be acquired by the Acquirer, the acceptance shall be on the proportionate basis, taking care to ensure that the basis of acceptance is decided in a fair and equitable manner and does not result in any non-marketable lot.” This revised Public Announcement is also available on SEBI’s website: http://www.sebi.gov.i/.

The other terms in the Public Announcement that appeared in this newspaper on Thursday, January 2, 2003 remains unaltered.

Place: Mumbai                                                           Date:  Tuesday, January 7, 2003