CORRIGENDUM TO PUBLIC ANNOUNCEMENT TO THE

SHAREHOLDERS OF SERVE-ALL INVESTMENTS LIMITED [SIL]

(Registered Office: Garden Mills Complex, Outside Sahara Gate, Surat-395010)

Further to the Public Announcement dated April 27, 2004 and Corrigendum dated June 8, 2004 issued by Ashika Capital Limited to the shareholders of SIL on behalf of Mr. Yalamati Srinivasa Chakravarti, Mr. RamaKrishna Rao Kancharla alias Ram R Kancharla and Mr. Devarapalli Venkateswara Rao Pattabhi alias Venkat Davarapalli [hereinafter referred to as “the Acquirers”], the shareholders are requested to kindly note the following:

1.      The last date for payment of consideration for acquisition of shares has been wrongly mentioned as ‘August 27, 2004’ in the previous Corrigendum. The same shall be read as ‘August 17, 2004’.

2.      The Un-Audited Financials given in the Letter of Offer are Certified Un-Audited Financials.

The Acquirers accept full responsibility for the information contained in this Announcement.

This Announcement will be available on the SEBI website www.sebi.gov.in.

Issued by Manager to the Offer on behalf of the Acquirers:

Place: Hyderabad

Date: June 21, 2004.