On Friday, March 14th, at a 10:00 am news conference, Man Industries, a leading pipe manufacturer based in India, announced plans to locate a new manufacturing plant on a 162-acre site just south of the Little Rock Port. The company will invest approximately $100 million in the facility, which will employ 250 people. The facility will also serve as Man’s headquarters for North and South America.

Man Industries’ Little Rock location will have will have the capability of producing 300,000 tons of HSAW (Helical Submerged Arc Welded) pipes annually. These pipes will be used primarily in the petroleum industry, and a coating facility will also be on site. Production is scheduled to begin by early 2009.

Elizabeth Small (PDC Companies), Chairman of the Board of Directors of the Little Rock Regional Chamber of Commerce, hosted the event in the Chamber’s AT&T Auditorium and introduced Ramesh Mansukhani, Chairman of Man Industries (India), Ltd.

"The execution of this first facility is significant for Man, as we strengthen our presence in the U.S. market and take an important step towards investing in this region," said Mansukhani. "Based on the U.S.’s growing demand, Man is very confident about its future growth opportunities in the U.S. Man is committed long-term to strengthening infrastructure in this region so as to serve the fast-growing American market, as well as partnering with the local community to be a good citizen and a good neighbor. It's of utmost importance that a strong manufacturing base, supported by the project’s Operations and Management team, seamlessly intertwines to help Man deliver quality products on time and on budget to all its esteemed customers."

“We thank the leaders of Man Industries for bringing these jobs to Arkansas, and we are honored that they have chosen Little Rock as their headquarters for North and South America,” Governor Mike Beebe said. “Arkansas’s reputation as a destination for foreign companies looking to bring investments and jobs to the United States continues to grow.”

Man Industries currently has two manufacturing facilities in Gujarat and Madya Pradesh, India. The addition of the Little Rock manufacturing facility will allow the company to expand and better serve the U.S. market, according to Mansukhani.

The location of Man Industries marks the fourth major company to locate in or near the Little Rock Port during the past nine months.

"Today's announcement represents another great example of how our regional approach to economic development is working,” said Little Rock Mayor Mark Stodola. “Locating Man Industries here was a collective partnership between the City, AEDC, Little Rock Regional Chamber, Little Rock Port Authority, Pulaski County and Metro Little Rock Alliance, among others. Little Rock is rapidly becoming a hub for direct foreign investment, and we couldn't be more pleased. We welcome Chairman Mansukhani and Man Industries to our community and are confident they have made the right choice."

Additional information may be found at www.mangroup.com.

About Man Industries (India) Limited

Man Industries (India) Ltd., an ISO 9001 / 14001 / 18001 accredited company, is a leading manufacturer of SAW (Submerged Arc Welded) Pipes (Line Pipes) and Coating Systems for high-pressure Oil & Gas applications with a potential production capacity of approximately one million tons per year.

The Company is a part of the well diversified Man Group, growing under the leadership of Mr Ramesh Mansukhani. Starting as an Aluminium Extruder in 1988, Man Industries has now become a large player in SAW Pipes. It is also a significant sized player in Spirally Welded Pipes and Coating Systems. Man Industries’ operations are spread across globally with offices in the U.K. and U.A.E. besides India.

The shares of the Company are listed with Bombay Stock Exchange and National Stock Exchange and the GDRs of the Company are listed with Dubai International Financial Exchange (DIFX).

-30-