PRESS RELEASE

Nicholas Piramal India Limited - Announcement:
Custom Manufacturing Group Head

Mumbai, India, 16 November 2005: Mr. Michael J. Fernandes will join Nicholas Piramal India Limited as Executive Director – Custom Manufacturing Group from 1st December 2005. The CMO activity of Nicholas Piramal is in the context of participating in the global restructuring of this Industry. Nicholas Piramal itself is completing an acquisition of Avecia, a leading UK-based CMO and is now positioned to have a truly global offering.

Mr. Fernandes will be responsible for all CMO activities of NPIL. He will take over the responsibility from Mr. J.C. Saigal, who will retire from the services of the Company on 31st March 2006 after a highly successful career tenure of over 23 years with Nicholas Piramal.

Mr. Fernandes is currently a Principal with McKinsey & Company. Mr. Fernandes has worked with McKinsey & Company for over twelve years out of offices in India, UK, Israel, South Africa, Singapore and Denmark. Currently, Mr. Fernandes is a member of the McKinsey Leadership Group of Pharmaceutical and Healthcare Practice in Asia.

Mr. Fernandes has worked on several consulting assignments with Nicholas Piramal and has led the consulting team that advised Nicholas Piramal on evolution of its global CMO strategy since the early 2000s.

For further information contact:

Vijay Sathye
Vice President - Investor Relations and M&A
Nicholas Piramal India Limited,
Nicholas Piramal Tower,
Ganpatrao Kadam Marg,
Lower Parel, Mumbai - 400 013,
India.
vsathye@nicholaspiramal.co.in
Mobile: +91 9821879774
Phone: +91 22 56637899
Facsmile: +91 22 24936708