Open Offer for Frontier Leasing Ltd at Rs.25

Ashika Capital Ld ("Manager to the Offer") for and on behalf of Mr. Vijay Sawant, Mrs. Sheela Sawant, Mr. Vaibhav Sawant, Mrs. Shraddha Sawant, Mr. Vicky Sawant, Mrs. Vishaka Chaugule & Mr. Anand Naik ("Acquirers") has issued this Public Announcement to the shareholders of Frontier Leasing & Finance Ltd ("Target Company"), pursuant to and in compliance with among others, regulation 10 & 12 of Securities & Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto ("Regulations").

The Offer

The Acquirers are making an Open Offer to the shareholders (other than parties to the Agreement) of the Target Company to acquire upto 49,000 fully paid up equity shares of Rs 10/- each representing 20% of the voting capital, at a price of Rs 25/- per fully paid-up equity share ("Offer Price") payable in cash in terms of regulation 20.

Schedule of Activities

Specified Date: August 17, 2007

Date of Opening of the Offer: September 27, 2007

Date of Closing of the Offer: October 16, 2007

Source : Equity Bulls

Keywords