Forbes Group and HDFC Limited launches a publishing company

Media release, March 8, 2005

Mumbai

The Forbes Group (India's oldest business group, owned by Shapoorji Pallonji) and HDFC Limited have joined hands to start a new Company - Next Gen Publishing Limited (NGPL), which has been established to offer the best in the field of print publishing, through niche / special interest magazines and other print products. NGPL plans to become a leading content generation company.

The Board of Directors of NGPL includes: Mr. Nawshir Khurody (former Chairman Tata Infomedia Limited & former Managing Director, Voltas Ltd. & Chairman NGPL), Mr. K. C. Mehra (Deputy Chairman and Managing Director Forbes Gokak Limited), Mr. Keki Mistry (Managing Director HDFC Limited) and Mr. R N Jha (former Director LIC).

NGPL is headed by Mr. Hoshang Billimoria (former Vice Chairman and Managing Director Tata Infomedia Limited), who has over 14 years experience in the publishing and printing industry. Mr Billimoria was responsible for starting the Directory and Magazine publishing business at Tata Infomedia Limited, where he was instrumental in the Company's turnaround from a loss making printing company to a successful publishing company. During his tenure, several special interest magazines in the B2B and B2C space were launched and they became leaders in their respective categories. Also, the Yellow Pages Directories that were introduced in twelve cities became huge successes.

Announcing the formation of NGPL, Mr. K.C. Mehra, Dy. Chairman Forbes Gokak Ltd. said, "The Forbes Group, with a majority shareholding by Shapoorji Pallonji, is delighted to partner with HDFC Limited in the formation of NGPL. We see huge growth potential in both publishing and content generation. With a highly capable team headed by Hoshang Billimoria, we expect very positive results and growth."

Commenting on the future of Next Gen, Mr. Hoshang Billimoria, CEO said, "Next Gen plans to enter into specialized areas, with high quality product offerings, meeting the needs of discerning readers and users. Our team has rich experience in launching well researched, innovative products, and marketing them successfully."

NGPL will be launching its first magazine shortly.

For more information please contact:

Kais / Rapunzel / Nupur

Madison PR, Mumbai

(022) 24187074, 9833126511 / 9892520851 / 9820131613