December 22, 2000

The Secretary
The Bombay Stock Exchange
Phirioze Jeejeebhoy Towers
Dalal Street
Mumbai 400 023

Dear Sir,

At the Board Meeting of ACC held today, it was reported that Ambuja Cement Holdings Ltd. have acquired on 21st December, 1999 an aggregate of 1,23,00,000 (One hundered twenty three lakhs) equity shares in The Associated Cement Companies Limited on a spot delivery basis from the present Promoter Group i.e. various Tata Companies.

Ambuja Cements Holdings Ltd. is a wholly owned subsidiary of Gujarat Ambuja Cements Ltd. (GACL). GACL presently holds 172 Equity Shares and with the above aquisition its shareholding represents approximately 7.2% of the equity share capital of the Company.

This is for your information

Yours faithfully,

For The Associated Cement Companies Ltd.,

Sd/- (P.K.Sinor)
Director & Company Secretary

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