Mumbai, August 8, 2006: In a significant development for the global denim market, two global conglomerates – textile and apparel major, Raymond Ltd. and European denim major, UCO NV, have come together to form a new global denim powerhouse.

This 50:50 Joint Venture Company, incorporated in India as Raymond UCO Denim Private Ltd. and with executive headquarters in Belgium, will be engaged in the business of manufacturing and marketing of denim fabrics.  This move heralds a new era in the global denim market with a single entity having manufacturing facilities spread across three continents – the US, Europe and Asia with a combined fabric capacity of 80 million metres per annum and a vast global marketing network.

Announcing the formation of the Joint Venture, Mr Gautam Singhania, Chairman and Managing Director, Raymond Ltd. said, “We are extremely pleased to be part of this new company that will be a major force in the world of denim. This joint venture brings together the experience and expertise of two major denim-manufacturing companies in the world. UCO NV is a world-class company and the most ideal partner to take our denim business to greater heights. At Raymond, we continue to move forward towards taking our business global.”

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Mumbai, November 10, 2006: Raymond Ltd., India’s leading textile and apparel major, today, added a new dimension to fashion in India, with the announcement of a 50:50 joint venture with Grotto S.p.A, one of the most important Italian fashion companies. The joint venture will launch the highly successful 'GAS' brand in India. 'GAS' will retail a total look, lifestyle collection that features its core business in premium denim clothing offering Indian consumers an incredible fusion of the latest international fashion, quality clothing and an exciting experience in the universe of GAS value and values: passion, positive thinking, sensuality and essentiality.

With a total investment of approximately Rs. 500 million, this joint venture will bring together Grotto S.p.A's proven expertise in design and managing a successful brand and Raymond Ltd. expertise in apparel brand building and retailing and its vast distribution network to give Indian consumers a new fashion experience. The changing demographic landscape of the Indian population is fuelling the growth in demand for international fashion brands. The market for jeanswear in India is estimated at 90 mn pairs per annum of which 30% has been captured by the branded segment.

Announcing the JV, Mr. Gautam Hari Singhania, Chairman and Managing Director, Raymond Ltd, said: "The introduction of GAS in India is an exciting moment for us at Raymond. It reiterates our continued pursuit of bringing the best in international fashion to Indian consumers. Our approach, through this 50:50 venture, ensures that the consumer will get the benefit from the strengths of both partners. GAS is renowned for its strong connect with the fashion and lifestyle of young consumers sensitive to the new fashion trends."

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Raymond setup state-of-the art worsted suiting fabric facility at Vapi, in Gujarat in March 2006 with a manufacturing capacity of 6 million meters per annum. With the Vapi plant, Raymond now become the largest integrated player of worsted suiting fabric in the world with a total output of 31 million meters per annum. We are also proud that our worsted unit at Chindwara has achieved a record production capacity of 14.65 million metres in May 2006 making it, the single largest integrated worsted unit in the world.

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On 4th October 2006, Raymond Apparel brought the Zapp! Experience to Mumbai with their new store at Waterfield Road, Bandra. This flagship Zapp! store was inaugurated by Mr. Gautam Hari Singhania, Chairman and Managing Director, Raymond Ltd. along with Mr. Pradeep Bhandari, Group President, Raymond Ltd. and Mr. Shreyas Joshi, President, Raymond Apparel Ltd.

Spread over 1800 sq. ft., the Zapp! store provides a unique shopping treat for kids with its fun ambience, wide variety of merchandise and an exciting in-store experience. Targeted at kids between the age group of 4 to 12 years, the Zapp! collection features a wide range of apparel from party wear to relaxed casual wear.  Designed in-house, keeping in mind the needs of its target consumers, the Zapp! clothing range will be available through the ‘Basics’, ‘Denim’ and other lead collections. In addition to this, Zapp! has also entered into a tie-up with Warner Brothers to make available the complete range of ‘Superman’ merchandise in India.

Speaking at the inauguration, Mr. Gautam Hari Singhania, Chairman and Managing Director, Raymond Ltd., said, “For decades, Raymond has had a major influence on fashion and today we are taking yet another step in creating a whole new experience for a whole new audience – the new generation of fashion conscious young adults! Our first store in Ahmedabad in June 2006 has been a successful experiment with some amazing response. With a strong product range coupled with a unique and fun experience Zapp! would definitely redefine the kidswear market that has a huge potential in India.”

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Mumbai, November 10, 2006: Ring Plus Aqua Ltd, a Raymond Group Company, part of our engineering division entered into a 50:50 JV with a US based auto component manufacturer, A.J. Rose Manufacturing Company. With an initial investment of Rs 17 crore, this JV will manufacture Precision Sheet Metal Pulleys by the spinning process, at facilities in Sinnar, near Nashik in Maharashtra.

This JV the first of its kind, in the automobile components manufacturing sector will use the advanced spinning technology of A J Rose to manufacture  Precision Sheet Metal Pulleys and is expected to  replace the conventional cast pulleys over a period of time.

Commenting on this occasion, Mr. Harshal Jayavant, President – Engineering Business, Raymond Ltd. said, "We are delighted to partner with a reputed Company like A.J. Rose, to form this advanced technology venture and are looking at a dominant share of business from the international markets."

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The Raymond Rehabilitation Centre for the welfare of under-privileged children was inaugurated on 3rd July at Jekegram, Thane. The centre was inaugurated by our CE, Dr. Vijaypat Singhania and is the result of initiatives taken by CE as part of other similar projects for the welfare of common man, under the aegis of the Sheriff of Mumbai..

With an intention of making less fortunate children independent and self-sufficient in life, the centre provides free vocational training workshops to young boys and girls over 16 years. The three-month vocational courses will comprise of basic training in electrical, air-conditioning & refrigeration courses, tyre puncture and repair, plumbing etc.

At the end of the training period, these children will be awarded certificates and a tool-kit, making them independent to start practicing the skills acquired from the centre. These courses would be conducted by the finest faculty from Industrial Training Institutes (ITI), set up under the Directorate of Vocational Education and Industrial Training, Government of Maharashtra. The Centre will work in close association with select NGOs for the vocational training courses.