HISTORY OF HERO HONDA The success of the Hero Group lies in the determination and foresight of t h e Munjal brothers,

who shared their vision with their workers and led the Group to a position where its name has become synonymous with top-quality two wheelers.The flame kindled by the Munjal brothers in 1956 with the flagship company HeroCycles; Mr. Satyanand Munjal, Mr. Brijmohan Lall Munjal and Mr. O. P. Munjalcontinue to carry the torch and are actively involved in the day-to-day operationsof the Hero Group.The saga is being continued with the same zeal by the second and third generationso f t h e f a m i l y a n d b y t h e l a r g e w o r k i n g f o r c e o f t h e H e r o G r o u p . T h e s p i r i t o f enterprise which dominates the progress of the Group is characteristic of the landwhere it all began - the City of Ludhiana, in Punjab - home to some of lndia's finestworkers and entrepreneurs.The Hero Group is a thriving example of three generations of a family working andstriving together to ensure quality, satisfaction and extensive growth. Milestones Hero's success saga contains an element of spirit and enterprise; of achievementthrough grit and determination, coupled with vision and meticulous planning. 1956 Hero Cycles Limited is established. 1961 Rockman Cycles Industries Limited established, which is today the largest manufacturer of bicycle chains and hubs. 1963 It pioneered bicycle exports from India - a foray into the international market. 1971 Highway Cycles was set up to meet the demands of Hero Cycles. It is today the largest manufacturer of single speed and multi-speed freewheels. 1975 Hero Cycles Limited became the largest manufacturer of bicycles in India. 1978 Majestic Auto Limited was formed and the Hero Majestic Moped was introduced. 1981 Munjal Castings established.

1984 Hero Honda Motors Limited established in joint venture with Honda Motors of Japan, to manufacture motorcycles. 1985 Munjal Showa Limited established to manufacture shock absorbers and struts and is today among the top two shock absorber manufacturing companies in India. 1985 The 100 cc Hero Honda Motorcycle arrived and by1988 was the No. 1 among all motorcycles in India. 1986

Hero Cycles Limited entered the Guinness Book of Records as the largest bicycle manufacturer in theWorld. 1987 Hero Motors, a division of Majestic Auto Limited set upin collaboration with Steyr Daimler Puch of Austria. 1987 Gujarat Cycles Limited, now known as Munjal AutoIndustries Limited was established to manufacture andexport state-of-the-art bicycles and allied products inits fully automated plant at Waghodia. 1987 Sunbeam Auto Limited, earlier a unit of HighwayCycles Limited, established as an ancillary to HeroHonda. It is the largest die casting plant in India. 1988 Introduced "Hero Puch" from Hero Motors Limited. Thisrevolutionary machine immediately set new records of petrol efficiency and usable power in 50 - 65 ccmachines. 1990 Hero Cold Rolling Division established and is one of themost modern steel cold rolling plants. 1991 Hero Honda receives National Productivity Council'sAward. 1991 Hero Honda receives the Economic Times - HarvardBusiness School Association Award against 200contenders. 1992 Munjal Showa Limited receives National Safety Award. 1993 Hero Exports established as the International TradingDivision for Group and non-Group products. 1993 Hero Motors becomes Indias largest exporter of twowheelers 1995 Hero Corporate Services Limited as the servicesegment for the Hero Group Companies, ancillaries, suppliers, dealers and other associates. 1996 - Hero Winner, a large-wheeled scooter was introducedby Hero Motors Limited with a choice of 50 cc and 75cc engines. 1996 Munjal Showa Limited receives British Council'sNational Safety Award. 1998 - Hero Briggs and Stratton Auto Private Limited wasset up to produce 4-stroke two-wheeler engines invarious cubic capacities. 1998 Munjal Auto Components established to manufacturegear shafts and gear blanks for motorcycles. 2000

The Hero Group diversifies into IT and IT enabledservices through its service segment - Hero CorporateServices Limited. 2000-2001 Hero Honda emerges as the market leader inmotorcycles with sales of over a million motorcyclesand a strong market share of 47%. 2001 Hero Global Design established to offer engineeringservices in CAD/CAM/CAE related to New ProductDevelopment, Design, Engineering and Manufacturing. 2002 Hero Cycles ties up with National Bicycle Industries,part of Matsushita Group to manufacture high-endbicycles. 2002 Fastener World Established. 2002 Easy Bill Established to offer utility bill collection & retail services. 2003 Tie up with Livebridge Inc., USA. 2004 Tie up with Bombardier - Rotax GmbH for scooterengines. 2004 Tie up with Aprilia Scooters, Italy. 2004 Hero Honda continues as the World's largestmanufacturer of two-wheelers with annual salesvolume of 2.07 million motorcycles and a market shareof 48%. 2004 Retail Insurance business established. 2004