Share Purchase Agreement

RNS Number:8613S
Associated Cement Companies Ld(The)
19 October 2005



October 14, 2005

Dear Sirs,

Re : Everest Industries Limited

We have today entered into a Share Purchase Agreement with Everest Finvest
(India) Private Limited for sale and transfer of 74,00,020 (Seventy Four Lakhs
and Twenty) Equity Shares of our Subsidiary viz Everest Industries Limited for a
total consideration of Rs.99,16,02,680/- (Rupees Ninety Nine Crores Sixteen
Lakhs Two Thousand Six Hundred Eighty only).  This represents around 50% of the
Equity Share Capital of Everest Industries Limited.



The above transaction is subject to compliance with the provisions of SEBI
(Substantial Acquisition of Shares and Takeovers) Regulations, 1997.





Yours faithfully,

For The Associated Cement Companies Limited,





(A Anjeneyan)

Company Secretary








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