Max India Dismisses News Reports of Sale of its Healthcare Business

New Delhi, Delhi, India , 2006-11-06

Max India refers to the news report that appeared in the Economic Times of Nov 4, 2006 of the purported sale of its healthcare subsidiary, Max Healthcare Institute Ltd.

This news report is totally baseless and factually incorrect.

The group wishes to affirm to all its employees, shareholders, customers and other stakeholders that this news item is seen as mischievous. The company or its officers have neither been in contact with anyone in the ADAG group or for that matter any other party, for the sale of its healthcare business.

To the contrary as already reported in our latest investor release the company has reported robust growth for Max Healthcare and plans are afoot to expand the business both within and beyond the National capital region.

This clarification is all the more necessary as both Healthcare and Life Insurance are businesses of Trust and such misleading information is detrimental to the reputation of the Company.

We request all stakeholders of the Max Group to put this false news report to rest.

Analjit Singh
Chairman
Max Group

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Contact

Ashim Gupta, Max India Ltd., +91 9810585556
[email protected]