PUBLIC ANNOUNCEMENT TO THE SHAREHOLDERS OF

SNOWTEMP ENGINEERING COMPANY LIMITED

This Public Announcement is being issued by Doogar & Associates Limited, ("D&A Ltd."), Manager to the Offer, on behalf of Mrs. Anila Mahajan, Mr. Lalit Mahajan, Mr. Nitin Mahajan, Mr. Jatin Mahajan, Lalit Mahajan Family Trust, M/s Lalit Mahajan & Sons (HUF), M/s. Lalit Nitin Mahajan (HUF) and M/s. Lalit Jatin Mahajan(HUF), M/s. J. Mitra & Sons (HUF) pursuant to and in compliance with Regulation 11 of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto ("Regulations").

I .The Offer

  h.The Acquirers have not acquired any shares in the past twelve months prior to the date of this Public Announcement.

1. Mitra Industries Ltd.

2. Mitra Consultants Pvt. Ltd.

3. Medilease Pvt. Ltd.

1. Biotech Inc.

1. Mitra Industries Ltd.

2. Mitra Consultants Pvt. Ltd.

3. Medilease Pvt. Ltd.

1. Mitra International

2. Biotech Inc.

1. J. Mitra & Co. Ltd.

2. Mitra Industries Ltd.

1. Mitra International

2. Biotech Inc.

1. J. Mitra & Co. Ltd.

2. Mitra Industries Ltd.

1. Mitra International

2. Biotech Inc.

All the individual Acquirers are already a director on the board of the Target company.

1. Snowtemp Engineering Company Limited (originally known as York India Limited) having its registered office at 14 Miles Stone, Delhi Mathura Road, Faridabad, Haryana-121003, is a Public Limited Company incorporated on 14^th January, 1962 under the Companies Act, 1956. The name of the company was changed to Snowtemp Engineering Company Ltd. on 14^th August, 1975. SECL had been in the business of Manufacturing of Compressor, Evaporators, Chillers, specialized fabricated items and also provides related services. SECL was taken over by the present management in the year 2000 from the original promoters of the company. The production activities of SECL have been suspended for more than 2 years and since last takeover there have been no manufacturing activities in SECL. At present also the company is neither manufacturing nor carrying out any trading & job work activities since it is not commercially viable and the income of the company solely comprises rental income. There are no employees in the company.

2. The total paid up capital of the Target Company (SECL) as on 31.03.2002 date is Rs. 30,00,000 (comprising of 3,00,000 fully paid up equity shares of Rs. 10 each)

3. The shares of the Target Company (SECL) are listed on DSE and CSE.

4. Based on the last available audited accounts, the brief financial of the company for past three years are as under:

   (In lacs)

   For the financial year	2001-02	2000-01	1999-00
   Total Income	12.00	2.13	13.56
   Profit/ (Loss)	(1.45)	(11.21)	(48.01)
   Net worth	(100.07)	(98.61)	(87.40)

    

5. Total income and Profit/ (Loss) after tax for the Quarter ended 30.06.2002 are Rs. 3.00 lacs and Rs. (0.08) lacs respectively. As on 30.06.2002, the paid up share capital is Rs.30.00 lacs and the net worth is Rs. (100.15) lac. For the Quarter ended on 30.06.2002, the return on net worth is nil, book value per share is nil and Earning per share is nil.

4. Object of the Offer

1. The offer to the shareholders of SECL is made in accordance with Regulation 11 of the Regulations.

2. The prime object of the offer is Consolidation of the holdings of the Acquirers for the purpose of delisting of the shares of the company from the stock exchanges.

3. Acquirers have undertaken that they will not dispose of or otherwise encumber any substantial assets of SECL in the next two years without taking prior approval of the shareholders. No change in control/management of SECL is contemplated as the Acquirers already have control/ management of SECL.

5. Statutory Approvals / Other Approvals required for the Offer

The Offer is subject to following approval:

1. Approval from Reserve Bank of India ("RBI") under Foreign Exchange Management Act, 1999 ("FEMA") to purchase shares from non -resident shareholders, if any.

2. As on date of this Public Announcement, to the best of Acquirers' knowledge, there are no other statutory approvals required. The Offer would be subject to all other statutory approvals that may become applicable at a later date before the completion of offer.

3. SEBI has the power to grant extension of time to the Acquirers for payment of consideration to shareholders subject to the Acquirers agreeing to pay interest for the delayed period as directed by SEBI in terms of Regulation 22 (12) of the Regulations, if there is any delay in receipt of statutory approval. If, however, the delay in obtaining the requisite approval takes place on account of any willful default by the Acquirers then provision contained in Regulation 22 (13) of the Regulations will also become applicable.

6. Delisting option pursuant to Regulation 21(3)

   As a consequence of this offer, the public shareholding may reduce to less than 10% and the shares of the company may get delisted from the stock exchanges. In such a case the Acquirers shall make another offer to buy out the remaining public shareholding at the same offer price within a period of three months from the date of closure of the original offer.

7. Financial Arrangement

1. The Acquirers have made firm financial arrangements to meet the obligation under the offer in full. As per the Net Worth Certificates as on 30.06.2002, issued and duly certified by M. Ram & Co., Chartered Accountants vide his certificate dated 07.08.2002, there are adequate liquid funds to finance the purchase of all the shares for which the present offer is being made.

2. The total fund requirements for the acquisition of 30,107 fully paid up equity shares at Rs. 30/- per share is Rs. 9,03,210/- (Rupees nine lacs three thousand two hundred and ten only). In accordance with Regulation 28 of the Regulations, the Acquirers have created an Escrow Account in Allahabad Bank, New Delhi of Rs. 5,00,000/- (Rupees five lacs only) being more than 55% of the total consideration payable to shareholders under the offer.

3. The Acquirers have authorized D & A Ltd., Manager to the Offer to operate and realize the value of the Escrow Account in terms of the Regulations.
4. The Manager to the Offer has satisfied itself about the Acquirers' ability to implement the offer in accordance with the Regulations.

1. The Letter of Offer alongwith the Form of Acceptance cum Acknowledgement will be mailed to the shareholders of SECL whose names appear in the Register of Members of SECL as on 21.10.2002 (the "Specified Date"). The Letter of Offer will be mailed to such shareholders by 20.11.2002

   The shareholders of SECL are eligible to participate in the offer anytime before the closure of the offer by sending their Form of Acceptance cum Acknowledgement, original share certificate(s) and transfer deed(s) duly signed to Doogar & Associates Limited either by Registered Post, Courier or Hand Delivery (between 10:00 a.m. to 5:00 p.m. on all working days), on or before the date of closure of the Offer i.e. 04.01.2003 in accordance with the instructions specified in the Letter of Offer & Application Form. The Contact person is Ms. Anvita Awasthi.

2. Eligible persons to the offer may also download a copy of Form of Acceptance cum Acknowledgement, which is available on SEBI's website at http:/www.sebi.gov. in and can apply for the offer in such downloaded form.

3. The unregistered owners of shares are also eligible to participate in the Offer by sending their application in writing to Doogar & Associates limited on a plain paper stating the Name, Address, No. of shares held, No. of shares offered under the offer, Distinctive Nos., Folio No., together with the original Share Certificate(s) and transfer deed(s) and the original contract note issued by the broker through whom they have acquired their shares. No indemnity is required from unregistered shareholders.

4. In the event of non-receipt of Letter of Offer, the eligible persons may send application on plain paper stating the Name, Address, No. of shares held, No. of shares offered under the offer, Distinctive Nos., Folio No. along with all documents as mentioned above, so as to reach Doogar & Associates Limited on or before the date of closure of the offer i.e. 04.01.2003

5. Doogar & Associates Limited will hold in trust the Shares/share certificate(s), Form of Acceptance cum Acknowledgement, if any, and the transfer deed(s), till the Acquirers complete their offer obligations in terms of the Regulations.

6. Applications which are complete in all respect and which reach Doogar & Associates Limited on or before the date of closure of the Offer i.e. 04.01.2003 would be approved and accepted by the Acquirer. The payment of consideration for the applications so accepted will be made by crossed account payee cheque /demand draft/ pay order. The intimation regarding acceptance of applications and payment of consideration will be dispatched to the shareholders by registered post at the shareholders’ sole risk. In case of joint holder(s), the cheques / demand draft will be drawn in the name of the first holder and in case of unregistered owners of shares the consideration will be paid to the person whose name is stated in the contract note.

7. In the event of non acceptance of any application, all the documents as forwarded to Doogar & Associates Limited will be sent back to the shareholder by Registered post at shareholders’ sole risk.

8. A copy of this Public Announcement is also available on SEBI's website www.sebi.gov.in.

9. A schedule of the major activities in respect of the offer is given as under :

Activity	Last Date
Last date for a Competitive Bid	31.10.2002 (Thursday)
Specified Date (for the purpose of determining the names of those shareholders to whom the Letter of Offer would be sent)	21.10.2002 (Monday)
Date by which Letter of Offer will be dispatched	20.11.2002 (Wednesday)
Date of opening of the Offer	06.12.2002 (Friday)
Date for revising the offer price	25.12.2002 (Wednesday)
Date of closing of the Offer	04.01.2003 (Saturday)
Date by which the acceptance/rejection under the Offer would be intimated and the corresponding payment for the acquired shares and /or the unaccepted shares/share certificates will be dispatched	03.02.2003 (Monday)

1. The Acquirers can revise the price upwards upto 7 (seven) working days prior to closure of offer and if there is any upward revision in the Offer Price by the Acquirers till the last date of revision viz. 25.12.2002 the same would be informed by way of Public Announcement in the same newspapers in which the original Public Announcement had appeared. The Acquirers would pay such revised price for all the shares tendered any time during the offer and have been accepted under the offer.

2. Pursuant to Regulation 13 of the Regulations, the Acquirers have appointed Doogar & Associates Limited as Manager to the Offer.

3. The Acquirers accept full responsibility for the information contained in this Public Announcement and also for the obligations of Acquirers laid down in the Regulations and subsequent amendments thereof.

Doogar & Associates Limited

Date: 07.10.2002

Place: New Delhi