Spicer India Announces Groundbreaking for New Gear Plant

PUNE, India – 4 February 2010 – Spicer India Ltd., a joint venture company of Dana Holding
Corporation, USA, and Anand Automotive Systems today announced the groundbreaking for a new
hypoid gear manufacturing facility and testing center in Chakan, Pune, India.

Indian OEMs today operate on new vehicle platforms in the MUV / SUV / LCV segments.
Recognizing this growing customer need, Spicer India plans to expand its services to the Indian
automobile industry

“Indian-based OEMs are demanding improved efficiency, power density, fuel economy, torque-
carrying capacity, and weight reduction,” said Mr. James E. Sweetnam, President and CEO of Dana
Holding Corporation, a world leader in axle and driveshaft technology. “In response, Dana has
developed the AdvanTEK® series of axles to meet these growing customer requirements, and we
are pleased to announce that – with these new and expanded facilities – we will be positioned to
manufacture these axles in India.”

AdvanTEK axles comprise specially designed and manufactured hypoid gears with high power density.
To produce these gears, Spicer India is constructing a 50,000 sq. ft. ”greenfield” gear manufacturing
facility in Chakan, near Pune, to produce 240,000 gear sets annually. At full capacity, the facility will
employ approximately 130 skilled people. Gears manufactured in this facility offer the following significant
advantages to the customer of higher power transmission, higher torque and better NVH.

Mr. Deepak Chopra, CEO, Anand Automotive Systems, said, “In the last few years, Indian OEMs
have aimed at achieving world-class quality of vehicles manufactured here and meant for domestic
and international markets. With this new gear plant, Spicer India will have contributed in its own
way to help achieve this motive. This investment represents our ongoing commitment to the Indian
automotive market.”

Mr. B.D. Singh, COO, Spicer India Limited said, “The setting up of this new facility represents
another important milestone in Spicer India’s roadmap to growth. As leading OEM suppliers in the
country, we are pleased to be in a position to keep pace with our customer requirements and in
meeting market demands”.
About Spicer India
Spicer India Limited, established in 1993, is a leading supplier of axles, driveshafts (also known as
propeller shafts) and drivetrain products, as well as genuine service parts. The company provides
complete system solutions to OEMs and the related aftermarket in India and also has been the
major exporter to Dana Holding Corporation. Spicer India Limited products are marketed through a
network of dealers and retailers across the country in the aftermarket.

The company, which has a customer base of virtually all major OEMs in the automotive, commercial
vehicle, and off-highway markets, is a joint venture between Dana Holding Corporation, USA, and
Anand Automotive Systems.

About Dana Holding Corporation

Dana is a world leader in the supply of axles; driveshafts; and structural, sealing, and thermal-
management products; as well as genuine service parts. The company's customer base includes
virtually every major vehicle manufacturer in the global automotive, commercial vehicle, and off-
highway markets. Based in Maumee, Ohio, USA, the company employs approximately 23,000
people in 26 countries and reported 2008 sales of $8.1 billion. For more information, please visit:
www.dana.com.

About Anand Automotive Systems

Anand Automotive Systems is a leading manufacturer of automotive components and systems in
India, supplying to virtually every vehicle and engine manufacturer in the country.
With a large range of automotive components, the Group has a sales turnover of USD 700 million,
targeting to achieve $ 1 billion by 2012.
In 1961, the Group started its operations with the establishment of Gabriel India, the Group's
flagship Company in Mumbai for manufacturing Shock Absorbers. Today, the Group comprises 19
companies with 38 business units spread in eight states across the country India, employing 7,500
people.
Overall, the strength of Anand Companies lie in their strong brand image, widespread distribution
network, product range, excellent quality, extensive Original Equipment coverage, Export markets.

For Further Information Please Contact:

Abhinav Sood
ConnectComm
Ph: +919810605190
Email: abhinav.sood@connectcomm.org

Sona Puri
Corporate Communications
Anand Automotive Systems
Ph: + 9650705559
Email: sona.puri@anandgroupindia.com