February 28, 2006

Establishment of Satake India Engineering Pvt. Ltd.

Subsidiary Company to Develop the Indian Market

SIE Office Building in New Delhi

Satake Corporation has established Satake India Engineering Pvt. Ltd. (hereinafter called SIE) on March 1st 2006, formerly known as Satake New Delhi Office. The company will commence trading in April 2006.

The creation of SIE enables the expansion of business activities to include local procurement and installation, which was not legally permitted under the former Satake New Delhi Office. The establishment of SIE will provide the grain milling and food industries in India with the essential resources and skilled local presence to offer professional engineering and extensive after sale services.
SIE is responsible for the sales and support of grain processing equipment and complete plants for rice, wheat, maize, lentils and specialty products in India as well as other South Asian countries including Pakistan, Nepal, Sri Lanka etc. The most popular Satake machines continue to be paddy huskers, paddy separators, rice whiteners, polishers and color sorters, and those machines have been widely used by rice exporters. Though the majority of Indian rice mills are small, family owned businesses now, the trend is towards larger plants with improved product quality as the economy in India rapidly expands and the domestic market becomes more sophisticated and quality conscious.
SIE already has plans to increase staff and further develop their sales network within India, in particular to respond to the rapid advancement into the wheat flour milling industry.

Details of Satake India Engineering Pvt. Ltd.

1. Company Name
   • Satake India Engineering Pvt. Ltd.
2. Location
   • 4th Floor, Tower-1, HB Twin Towers,Netaji Subhash Place, Wazirpur District CentreNew Delhi, 110034, India
3. Contact
   • Tel : +91-11-41472626
   • Fax : +91-11-41472624
4. Capital
   • 10 million Indian Rupee (100% solely owned)

* Please note descriptions in news releases are accurate as of the date of release and may differ from the most up-to-date information.