1. For further information contact mergermarket Regional Head Offices Europe: 80 Strand, London WC2R 0RL United Kingdom – tel: +44 (0)20 7059 6100 North America: 895 Broadway #4, New York, NY 10003 USA – tel: +1 212-686-5606 Asia-Pacific: Suite 2001, Grand Millennium Plaza, 181 Queen’s Road, Central, Hong Kong – tel: +852 2158 9700 Visit us at: www.mergermarket.com Indian buyers: an opportunity for European Companies?

2. www.mergermarket.com 02/12/07 Summary  - About mergermarket  - M&A in Europe: Data and Trends  - M&A between European companies and Indian buyers  - League tables  - Case Studies (Fondalmec; Bellora and Zoom Developers)‏  - Q&A Session

3. www.mergermarket.com 02/12/07 About mergermarket  Unique M&A service focused on actionable proprietary intelligence  Long term M&A strategic intelligence from 200+ journalists  Intelligence from over 2,000 public sources  Extensive historical deals database  The most comprehensive view of any potential or announced M&A event.

4. www.mergermarket.com 02/12/07 About mergermarket  92,000 individual users from over 1,200 institutions  Senior M&A practitioners  Heads of M&A  Partners  CEOs  Investment banks, law firms, private equity firms and corporates  Global reach: M&A specialists in 56 locations across Europe, the Americas, the Middle East, Africa and Asia-Pacific

5. www.mergermarket.com 02/12/07 mergermarket Intelligence Timeline MONTHS 24013-6 Deal Announcement Advisors Appointed Deal Completion 3

6. www.mergermarket.com 02/12/07

7. www.mergermarket.com 02/12/07 Summary  - About mergermarket  - M&A in Europe: Data and Trends  - M&A in India: Data and Trends  - League tables  - Case Studies (Fondalmec; Bellora and Zoom Developers)‏  - Q&A Session

8. www.mergermarket.com 02/12/07 European M&A trend quarterly: Value

9. www.mergermarket.com 02/12/07 European M&A trend quarterly: Volume

10. www.mergermarket.com 02/12/07 European M&A Deal Size: Value

11. www.mergermarket.com 02/12/07 European M&A by Industry Q1-Q3: Value

12. www.mergermarket.com 02/12/07 European M&A by Industry Q1-Q3: Volume

13. www.mergermarket.com 02/12/07 European M&A by Geography Q1-Q3: Volume

14. www.mergermarket.com 02/12/07 Heat Chart: Announced Deals H1 2007

15. www.mergermarket.com 02/12/07 Summary  - About mergermarket  - M&A in Europe: Data and Trends  - M&A between European companies and Indian buyers  - League tables  - Case Studies (Fondalmec; Bellora and Zoom Developers)‏  - Q&A Session

16. www.mergermarket.com 02/12/07 European Companies bought by Indian players 2007 YTD by Geography

17. www.mergermarket.com 02/12/07 European Companies bought by Indian players 2006 Q3 by Geography

18. www.mergermarket.com 02/12/07 European Companies bought by Indian players 2007 YTD by Sector

19. www.mergermarket.com 02/12/07 European Companies bought by Indian players 2006 YTD by Sector

20. www.mergermarket.com 02/12/07 Summary  - About mergermarket  - M&A in Europe: Data and Trends  - M&A in India: Data and Trends  - League tables  - Case Studies (Fondalmec; Bellora and Zoom Developers)‏  - Q&A Session

21. www.mergermarket.com 02/12/07 Top 10 Financial Advisers to EU M&A Q1 - Q3 2007

22. www.mergermarket.com 02/12/07 Top 10 Financial Advisers to EU M&A Q1 - Q3 2006

23. www.mergermarket.com 02/12/07 Top 10 Legal Advisers to EU M&A Q1 - Q3 2007

24. www.mergermarket.com 02/12/07 Top 10 Legal Advisers to EU M&A Q1 - Q3 2006

25. www.mergermarket.com 02/12/07 Top 10 Financial Advisers to Indian M&A Q1 - Q3 2007

26. www.mergermarket.com 02/12/07 Top 10 Financial Advisers to Indian M&A Q1 - Q3 2006

27. www.mergermarket.com 02/12/07 Top 10 Legal Advisers to Indian M&A Q1 - Q3 2007

28. www.mergermarket.com 02/12/07 Top 10 Legal Advisers to Indian M&A Q1 - Q3 2006

29. www.mergermarket.com 02/12/07 Top 10 Financial Advisers to EU targets and Indian bidders Q1 - Q3 2007

30. www.mergermarket.com 02/12/07 Top 10 Financial Advisers to EU targets and Indian bidders Q1 - Q3 2006

31. www.mergermarket.com 02/12/07 Top 10 Legal Advisers to EU targets and Indian bidders Q1 - Q3 2007

32. www.mergermarket.com 02/12/07 Top 10 Legal Advisers to EU targets and Indian bidders Q1 - Q3 2006

33. www.mergermarket.com 02/12/07 Top 10 Financial Advisers to Indian targets and EU bidders Q1 - Q3 2007

34. www.mergermarket.com 02/12/07 Top 10 Financial Advisers to Indian targets and EU bidders Q1 - Q3 2006

35. www.mergermarket.com 02/12/07 Top 10 Legal Advisers to Indian targets and EU bidders Q1 - Q3 2007

36. www.mergermarket.com 02/12/07 Top 10 Legal Advisers to Indian targets and EU bidders Q1 - Q3 2006

37. www.mergermarket.com 02/12/07 Summary  - About mergermarket  - M&A in Europe: Data and Trends  - M&A in India: Data and Trends  - League tables  - Case Studies (Fondalmec; Bellora and Zoom Developers)‏  - Q&A Session

38. www.mergermarket.com 02/12/07 Fondalmec bought by Endurance: Deal Description‏ 5 June 2007 Endurance Group, the Indian manufacturer of casting, suspension, transmission and braking products for the automotive industry, has acquired Fondalmec Officine Meccaniche Spa, the Italian manufacturer of automobile components, for an undisclosed consideration. Fondalmec group generated annual sales of EUR 73m* for the year 2007. The acquisition is in line with Endurance’s strategy to strengthen its position globally in the aluminium die-casting and machining sector by the year 2012. It will also generate additional business for Endurance in the European market and provide it with access to latest technology. * group sales turnover in 2007 (Fondalmec and Fondpress)

39. www.mergermarket.com 02/12/07 Fondalmec: presentation

40. www.mergermarket.com 02/12/07 Fondalmec group core business  Metal cutting machining and assembly of different alloy components in aluminium, cast iron and forged steel;  Die casting automotive components production in Fondpress (HPDC plant);  Fondalmec was founded in 1976 as a mechanical workshop for mass production of parts for the industrial vehicle and earth movers market sector;  Within a few years the company entered into the automotive market and became a supplier for European OEM.

41. www.mergermarket.com 02/12/07 Fondalmec Turnover evolution

42. www.mergermarket.com 02/12/07 Transaction from Fondalmec point of view  - Banca Aletti mandated to look for a partner in June 2006;  - Aletti contacted Endurance in July 2006;  - Fondalmec management meet Endurance in November 2006;  - Role of Fiat;  - Letter of Intent signed in December 2006;  - Corporate Governance agreements;  - Due Diligence and role of advisers (Studio Legale Ferreri and Deloitte);  - Conclusion.

43. www.mergermarket.com 02/12/07 Endurance Technologies

44. www.mergermarket.com 02/12/07 Endurance point of view  - Endurance mandated KPMG in 2006 to look for targets;  - Acquisition criteria  - Financing of the deal  - Fondalmec transaction  - Legal advisers: Gianni Origoni Grippo & Partners  - Role of the management

45. www.mergermarket.com 02/12/07 Zoom Developers

46. www.mergermarket.com 02/12/07 Point of view of an Indian private equity firm: Zoom Developers  Acquisition in 2004 of Nissan Motors' plastic fuel tank facilities in Newcastle and transfer the manufacturing base to India  Buy out of advanced tech facilities; looking at acquisitions where it can either turn around the company or shift the manufacturing base to India.  Appointment of PWC or E&Y or KPMG to look for buys,  Attend trade fairs and happening in Europe; Germany, UK and Italy areas of interest  Looking at sectors where there are limited players in the market.  Hurdles Note: with the contribution of Freny Patel

47. www.mergermarket.com 02/12/07 Bellora bought by Himatskingka Seide: deal description 29 January 2007  Himatsingka Seide, the Indian textiles player, has entered into a deal for 70% stake in Giuseppe Bellora (Bellora), the Italian bed-linen company. The transaction is expected to be completed in February 2007. During 2006, Bellora generated revenues of about EUR 29m. Established in 1883, the Bellora brand is a pan-European luxury brand in the bed-linen segment  With this synergy Bellora wants to spread its brand globally and reconfirm itself as a leader at the top level of the home textiles branch.  The strategy bets on the developement of its Flagship shops and corner network into major luxury department stores worldwide  During the past four years Bellora increased its sales point from 20 to 80 worldwide. The new target is to overcome 100 p.o.s. within the next two years.

48. www.mergermarket.com The company is organised in two main sections: the Bellora Brand Division the Industrial and Hotellerie Division ( private labels for major bed linen designer and full hotel equipment) ‏ The Bellora Brand Division 70% of the company total turnover With over 50 own looms in Italy and abroad it supplies the production of a wide range of textile products. 65% of the production is represented by bed linen in pure linen, in linen cotton blend and in the finest quality of cotton percale and satin 25% by bath articles 5% by table clothing 5% by home couture accessories. It is led by Angelo Cosmaro, Sales Manager since 1994. After reorganizing the italian market, he started to export the brand that under his command developed into one of the most prestigious names in bed linen industry worldwide. The Industrial Division 30% of the company total turnover This part of the company has supplied the most prestigious home linen private label collections (Armani Casa, Bloomingdale’s, Descamps, Delorme, Frette, Porthault). The Hotellerie Division The core business of Bellora’s hotel division are luxury – and- boutique hotels. Bellora is the nominee supplier of Bulgary Hotels as well as for many luxury establishment in wellness and hospitality institutions.

49. www.mergermarket.com 02/12/07 Bellora point of view: Discussion with Giuseppe Bellora  Company situation in 2000; industry outlook  Mandate to Mediobanca and GEA  2003: Bellora sells 40% to Riello  2003-2005: years of industrial relaunch, while Riello weighs exit strategy  First contacts with Himatskingka Seide, while other competitor approaches Bellora  February 2006: Bellora sells 70% stake to Himatskingka Seide  Corporate Governance agreement  Role of Giuseppe Bellora

50. www.mergermarket.com 02/12/07 Heat Chart H1 2007: Intelligence

51. www.mergermarket.com 02/12/07