Press Release For Immediate Publication

‘Mahindra Adventure Challenge, 2011’ flagged off

Mahindra Thar to ‘Explore the Unexplored’ terrain of the country

Mahindra Adventure Challenge 2011 set to recognize some of the best off-roading talent

Part of Mahindra’s unique Adventure Initiatives Mumbai, March 10, 2011: Mahindra & Mahindra Ltd. (M&M Ltd.), a part of the US $7.1 billion Mahindra Group, recently flagged off its „Mahindra Adventure Challenge, 2011‟ from Mumbai. A first of its kind initiative, the Adventure Challenge is a unique proposition, whereby Thar – the recently launched and ever popular off-roader, has been offered to the seven leading automobile magazines of India for a period of one month, to drive across the length and breadth of the country. The initiative will involve each publication driving to a particular zone, to ‘Explore the Unexplored’ terrains of India. The choice of zone was conducted through a draw of lots in Mumbai. The „Mahindra Adventure Challenge, 2011‟ was flagged off by Mr. Rajesh Jejurikar, Chief Executive, Automotive Division, Mahindra & Mahindra Ltd. and Mr. Vivek Nayer, Senior Vice President, Marketing, Automotive Division, Mahindra & Mahindra Ltd. Once the teams return from their adventure drives on April 7, 2011, they will share their experiences and stories and the winners of the „Mahindra Adventure Challenge, 2011’ will be declared. Speaking at the flag-off ceremony, Rajesh Jejurikar, Chief Executive, Automotive Division, Mahindra & Mahindra, said, “As you are aware, the USP of our vehicles over the years have been their tough and rugged DNA. The Thar, launched a couple of months ago, has received an overwhelming response. Given its off-roading capabilities, the Thar, is an ideal vehicle for long drives and getaways and to propagate this off-roading capability, we are pleased to announce the „Mahindra Adventure Challenge, 2011’. Going forward, this initiative will also lead into many more such events as we look to unleash the potential and thrill of off-roading.” Speaking on the occasion, Vivek Nayer, Senior Vice President - Marketing, Automotive Division, Mahindra & Mahindra said, “Mahindra is all set to unleash a series of Adventure Initiatives throughout the year, with this Adventure Challenge being the first. The series of Adventure Initiatives will leverage the changing aspirations and lifestyles of the upwardly mobile Indian consumer. The recently concluded Annual Mahindra Great Escape was a roaring success and this Mahindra Adventure Challenge is all set to create its own place of prominence within off-roading adventures. Further the journey also aims to celebrate Incredible India by connecting exotic and unexplored locales of our country.” About The Mahindra Group

The Mahindra Group focuses on enabling people to rise. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology, and vacation ownership. Mahindra has a presence in the automotive industry, agribusiness, aerospace, components, consulting services, defense, energy, finance and insurance, industrial equipment, logistics, real estate, retail, steel, and two wheelers. A US $7.1 billion multinational group based in Mumbai, India, Mahindra employs more than 112,000 people in over 79 countries. In 2010, Mahindra was named among the Forbes Asian Fab 50 and the Credit Suisse Great Brands of Tomorrow. Its flagship company Mahindra & Mahindra Limited has recently earned the distinction of being the only Indian automobile manufacturer to feature in the top 10 list of the Carbon Disclosure Leadership Index in India,- 2010, created by the Carbon Disclosure Project (CDP). For more information, visit www.mahindra.com For further information, please contact: Ms. Roma Balwani Senior Vice President & Group Head, Corporate Communications Mahindra & Mahindra Ltd Phone: (+91-22) 2490 1441 Fax: (+91-22) 2490 0830 Email: balwani.roma@mahindra.com