July.2nd, 2010

Dr. Jong-Shik, Kim, President & CEO of Tata Daewoo Commercial Vehicle Co., Ltd. (under TDCV), Korea  launched the Tata Daewoo Commercial Vehicle Sales & Distribution Co., Ltd(under TDSC) ,a 100% subsidiary of TDCV, for sale of Prima & Novus range of medium and heavy commercial vehicles in domestic market in Korea. Mr Zackria Sait, currently Vice President ,Domestic Marketing, TDCV will assume additional responsibility as President of new sales company.

The tape cutting and Board hanging ceremony was held on 2nd July 2010 at the Head Quarters of new sales company located in Feelingk Building,Yeongdeungpo-gu, Seoul in the presence of selected customers and dealers.

This was followed by a Grand Opening Ceremony at Grand Ballroom of Millenium Seoul Hilton Hotel

at 5 pm which was attended by Customers, Dealers, Vendors and employees of TDCV and the new sales company.

In his welcome speech Mr Sait pointed out that with the launch of its own subsidiary sales company,

TDCV has become a truly integrated commercial vehicle manufacturing and sales company responsible for the complete value chain. He stressed upon the importance of providing value to the customers for enhancing market share of Tata Daewoo Vehicles in Korea.

In his special address Dr. Jong-Shik, Kim said “The Korean market is around 24,000 per year for mid size and heavy comm vehs (above 4.5 Ton payload ) and world renowned manufacturers like Scania, Volvo and Benz are now investing in korea, due to its strategic importance for market expansion. Hence the Korean market is of importance to TDCV as the company strives to become a Global company.”

He also pointed out “Instead of just being a truck maker and seller ,let us become a company that provides products which customers prefer to purchase, the employees want to work for and that investors see as an attractive investment destination and thus let us be one of the most admired companies in korea.

The new sales company has around 30 sales dealers across the country with divisional offices in Seoul, Jeonju and Busan. It is also planning to have 3 S dealerships for Sales, Service & Spare parts under one roof to raise the customer satisfaction to higher levels.