MIRA INFORM REPORT

Report Date :

19.04.2011

IDENTIFICATION DETAILS

Name :	HEIDELBERG POSTPRESS DEUTSCHLAND GMBH
Registered Office :	Kurfürsten-Anlage 52-60, D 69115 Heidelberg
Country :	Germany
Date of Incorporation :	24.03.2004
Com. Reg. No.:	HRB 337660
Legal Form :	Private Limited Company
Line of Business :	Manufacture of machinery for paper and paperboard Production

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	50.000 EUR
Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – December 31, 2010

Country Name	Previous Rating (30.09.2010)	Current Rating (31.12.2010)
Germany	a1	a1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company name & address

Heidelberg Postpress Deutschland GmbH

Main address:

Kurfürsten-Anlage 52-60

D 69115 Heidelberg

Telephone: 06221/9200

Telefax: 06221/926999

Homepage: www.heidelberg.com

E-mail: info@heidelberg.com

Synthesis

LEGAL FORM Private limited company

Date of foundation: 1995

Shareholders'

agreement: 03.11.1995

Registered on: 24.03.2004

Commercial Register: Local court 68159 Mannheim

under: HRB 337660

Share capital: EUR 52.000,00

Shareholder

Heidelberger Druckmaschinen

Aktiengesellschaft

Kurfürsten-Anlage 52-60

D 69115 Heidelberg

Post Box:

10 29 40, D 69019 Heidelberg

Legal form: Public limited company

Share capital: EUR 597.325.573,12

Share: EUR 52.000,00

Registered on: 25.07.1899

Reg. data: 68159 Mannheim, HRB 330004

Control and profit transfer agreement

Manager

Rolf Munz

D 71394 Kernen

born: 15.06.1955

Profession: graduate engineer

Manager:

Christian Breyer

Am Schulberg 24

D 04687 Trebsen

born: 09.06.1961

Manager:

Thomas Krischke

D 69168 Wiesloch

born: 10.01.1962

Manager:

Norbert Ude

D 24226 Heikendorf

born: 10.03.1952

Proxy

Klaus Hofer

Unterer Steinacker 11

D 34587 Felsberg

authorized to jointly represent the company

born: 27.10.1957

Profession: Solicitor

Proxy:

Jürgen Fritsch

Fockestr. 13

D 04275 Leipzig

born: 31.01.1957

Profession: Fully qualified Economist

COMPANY HISTORY

03.11.1995 - 04.10.1998 Heidelberger Druckmaschinen Vertrieb

Frankfurt Gesellsch. mit beschränkter

Haftung

Kurfürsten Anlage 52-60

D 69115 Heidelberg

Private limited company

05.10.1998 - 12.02.1999 Heidelberg Finishing Gesellschaft mit

beschränkter Haftung

Kurfürsten Anlage 52-60

D 69115 Heidelberg

Private limited company

13.02.2002 - 18.11.2003 Heidelberg Finishing Gesellschaft mit

beschränkter Haftung

Austr. 50

D 71642 Ludwigsburg

Private limited company

20.02.2004 - 23.03.2004 Heidelberg Postpress Deutschland GmbH

-HRB 5722-

Austr. 50

D 71642 Ludwigsburg

Private limited company

RESIGNED ACTING PERSONS AND SHAREHOLDERS

22.05.2006 - 10.06.2010 Manager

Frank Schmid

D 47798 Krefeld

22.05.2006 - 10.06.2010 Manager

Christian Compera

D 66996 Schönau

22.04.2005 - 30.07.2008 Manager

Dr. Friedrich Denkhaus

D 69181 Leimen

BUSINESS ACTIVITIES

Sectors

28950 Manufacture of machinery for paper and paperboard Production

46692 Wholesale of other machinery

BRANCHES AND FACTORIES

Branch:

Heidelberg Postpress Deutschland GmbH

Brahestr. 8

D 04347 Leipzig

TEL.: 0341/2427-0

FAX.: 0341/2427-402

Branch:

Heidelberg Postpress Deutschland GmbH

Austr. 50

D 71642 Ludwigsburg

TEL.: 07141/5010

FAX.: 07141/58745

Branch:

Heidelberg Postpress Deutschland GmbH

Hanns-Martin-Schleyer-Str. 2

D 41199 Mönchengladbach

TEL.: 02166/96950

Branch:

Heidelberg Postpress Deutschland GmbH

Gutenbergring 19

D 69168 Wiesloch

FINANCIAL INFORMATION

Payment experience: within agreed terms

Negative information: We have no negative information at hand.

Maximum credit: 50.000 EUR

REAL ESTATE

Type of ownership: Tenant

Address Kurfürsten-Anlage 52-60

D 69115 Heidelberg

Land register documents were not available.

BANKERS

LANDESBANK BADEN-WÜRTTEMBERG, STUTTGART

Sort. code: 60050000, BIC: SOLADESTXXX

DEUTSCHE BANK, LUDWIGSBURG, WÜRTT

Sort. code: 60470082, BIC: DEUTDESS604

COMMERZBANK, LUDWIGSBURG, WÜRTT

Sort. code: 60440073, BIC: COBADEFF604

FINANCIAL FIGURES

Financial year: 01.04. - 31.03.

Turnover: 2009/2010 EUR 173.950.000,00

Profit: 2009/2010 EUR -35.742.000,00

Share capital: EUR 52.000,00

Equipment: EUR 5.113.000,00

Real estate of the firm: EUR 5.624.000,00

Employees: 980

Control and profit transfer agreement to:

Heidelberger Druckmaschinen

Aktiengesellschaft

Kurfürsten-Anlage 52-60

D 69115 Heidelberg

Post Box:

10 29 40, D 69019 Heidelberg

The aforementioned business figures may partly be estimated information based on average values in the line of business.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.27
UK Pound	1	Rs.7208
Euro	1	Rs.63.66

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.