At the meeting of the TVS Motor Company board held today, the board has declared a second interim dividend of Rs.0.70 per share (70%) on 23,75,43,557 equity shares of Re.1/- each for the financial year 2003-2004, absorbing a sum of Rs.16.63 crores. This includes 65,42,857 equity shares of Re.1/- each proposed to be allotted to the public shareholders of Lakshmi Auto Components Limited consequent to the scheme of amalgamation approved by the Hon'ble High Court of Madras vide its order dated 23rd March 2004. These shares will rank pari passu with the existing shares of the company.

The dividend will be paid to the shareholders whose names appear on the register of members of the company as on 30th April 2004.

With this second interim dividend the total dividend so far declared for the financial year ended 31st March 2004 is 130% i.e. Rs.1.30 per share of the face value of Re.1/- each.