Indus Motor to further enhance capacity - May 19, 2005 Karachi, May 19, 2005: Indus Motor Company will commence Phase 8 of its capacity enhancement this year. Mr. Jahangir Tareen, Federal Minister for Industries and Production will inaugurate the capacity enhancement project in the first week of September 2005 at Indus Motor Company’s plant at Port Qasim, Karachi. Ever since the successful launch of the New Corolla in March 2002 and its ever-increasing demand, Indus has constantly striven to increase its production capacity. In previous capacity enhancement phases, the company undertook a series of measures whereby it enhanced its capacity from 57 vehicles per day in March 2002 to the current 144 vehicles per day. Till date, Indus Motor Company, which is a joint venture with Toyota Motor Corporation, has invested more than Rs 2.7 billion in its manufacturing facility at Port Qasim Authority. In a press statement, Mr Shah Saad Husain, Director Corporate Planning, stated that the company has been making continuous efforts to increase production and the current capacity enhancement program will boost its annual production capacity further to 192 vehicles per day by April 2006, generating production of around 50,000 vehicles per year. In this expansion plan alone, Indus will be investing over Rs 500 million so that the total investment in the project would exceed Rs 3.2 billion. Further elaborating on the impact of these measures on the economy, Indus’s Director Corporate Planning said that this capacity expansion would not only offer more vehicles to meet the growing demand of the Pakistani market, but it would also yield greater revenue to the government through taxes and duties, further enhance technology transfer, and offer more employment and training opportunities to the Pakistani workforce. This in turn would help in economic growth and poverty alleviation.