FORGES TARDIEU LTD

COMMUNIQUÉ

The Board wishes to announce that Messrs Arnaud de Spéville and Robert Edgar Noël have resigned as Managing Directors with effect from 30 April 2007. Six Line Managers have also resigned.

The Board at a meeting held on 29 January 2007 approved the immediate appointment of Mr Hubert Raffray as Managing Director to succeed Messrs Arnaud de Spéville and Robert Edgar Noël.

Mr Hubert Rafffray’s past experience as Manager of Electrical and Control Specialists Ltd, one of the subsidiaries of Forges Tardieu Ltd and as past General Manager of Rey & Lenferna Ltd, will be particularly relevant and useful in his new responsibilities.

The Board is actively looking, in Mauritius and abroad, for the best candidates in replacement of the outgoing Line Managers.

The Company is financially strong and is in a position to honour all its present commitments. Going forward, the Board is confident the Company shall deliver the same level of service on which it has built its reputation since 1932, and is well placed to take advantage of growing opportunities locally as well as on the African market.

By order of the Board

Executive Services Ltd

Per Christian Angseesing

Secretary

Date: 14 February 2007

This Communiqué is issued pursuant to DEM Rule 21. The Board of directors of Forges Tardieu Ltd accepts full responsibility for the accuracy of the information contained in this Communiqué