Citigroup Global Markets Inc.
27 January 2006

                            STABILISATION NOTICE
                                                      
Company Name - Offering of 18,500,000 GDRs (Base offer of 16,700,000 GDRs and 
Greenshoe of 1,800,000 GDRs)

Stabilisation Notice

Pursuant to Core Dealing Rule 3060-3061, Citigroup hereby notifies the London
Stock Exchange that it and its affiliates may stabilise the offering of the GDRs
of Bajaj Hindusthan Limited:

1.     Security to be stabilised: GDRs of Bajaj Hindusthan Limited;
2.     Security Identifier: GDR REG S -US05710P4019 (temporary) and GDR 144A-
       US05710P3029 (temporary);
3.     Stabilising Manager: Citigroup (a member firm) (Contact - Leslie Holland 
       852-2501-2101);
4.     Stabilisation period commences: 27th January 2006 at approximately     
       09:00am London time;
5.     Stabilisation period ends: Close of business on 25th February 2006;
6.     Offer price: US$8.12 per share; and
7.     Over-allotment option is equivalent to 10.8% of the offering.



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