Mahindra Rejects Any Attempt by Global Vehicles to Order Mahindra Vehicles as it is Invalid

MUMBAI, India Sept. 28, 2010; Mahindra and Mahindra announced that it had received and was rejecting an invalid order for pick-up trucks from former distributor Global Vehicles USA, Inc.

Mahindra views this order as another example of Global Vehicles' policy of engaging in PR theatrics while pursuing an unnecessary lawsuit. This is Global Vehicles' continued attempt to manipulate the press to damage Mahindra's reputation. Mahindra also believes that this is an attempt by Global Vehicles to distract Mahindra from pursuing other plans to bring its vehicle to the U.S. market.

As stated in Mahindra's September 24 statement, the contract with Global Vehicles has expired. In light of this fact, Mahindra will be contacting U.S. dealers to make other arrangements for distribution.

Mr. P. N. Shah, Chief Executive, International Division, Automotive & Farm Equipment Sector said, "Mahindra's goal remains to bring its vehicles to the U.S. market, satisfying the desires of U.S. consumers and dealers alike."

About The Mahindra Group

Mahindra embarked on its journey in 1945 by assembling the Willys Jeep in India and is now a US $7.1 billion Indian multinational. It employs over 1,00,000 people across the globe and enjoys a leadership position in utility vehicles, tractors and information technology, with a significant and growing presence in financial services, tourism, infrastructure development, trade and logistics. The Mahindra Group today is an embodiment of global excellence and enjoys a strong corporate brand image.

Mahindra is the only Indian company among the top tractor brands in the world. It is today a full-range player with a presence in almost every segment of the automobile industry, from two-wheelers to CVs, UVs, SUVs and sedan. Mahindra recently acquired a majority stake in REVA Electric Car Co Ltd. (now called Mahindra REVA), strengthening its position in the Electric Vehicles domain.

The Mahindra Group expanded its IT portfolio when Tech Mahindra acquired the leading global business and information technology services company, Satyam Computer Services. The company is now known as Mahindra Satyam.

Mahindra is also one of the few Indian companies to receive an A+ GRI checked rating for its first Sustainability Report for the year 2007-08 and has also received the A+ GRI rating for the year 2008-09.