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Brushman (India) Ltd. Company History and Annual Growth Details

The Company was incorporated in the name and style of BRUSHMAN (INDIA)
PRIVATE LIMITED under the Companies Act, 1956 as a private limited
Company on 25th January 1993 issued by the Registrar of Companies,
Delhi & Haryana. The Company became a public limited company on 16th
November 1994.

PRESENT BUSINESS OF THE COMPANY

BIL is the largest manufacturer of paint brushes in India. BRUSHMAN
brand of paint brushes are the only brushes available on a nation wide
platform and is the largest selling singular brand of paint brush.
Apart from paint brushes, BIL is also into manufacture of artist
brushes, wire brushes, paint rollers & putty knives.

The Company is now putting up an integrated manufacturing plant in
Pantnagar, Uttranchal to manufacture paint brushers, wire brushes,
artist brushes, and hair brushes. It is noteworthy that Denman
International Ltd., U.K., who are the Worlds largest manufacturer of
hair brushes and who have also invested in the equity of BIL, are
giving free technical know-how to manufacture hair brushes and around
34 qualities of hair brushes/combs which shall be manufactured by BIL
at the Pantnagar plant shall be exported to Denman International Ltd.
For their global markets.

The land for the new plant was acquired in October 2005 and
construction work is in full swing. The company expects production to
commence by December 2006.

It may be added that the Company shall enjoy all fiscal benefits
granted by the Central Govt. for setting up the plant in Pantnagar,
Uttranchal.

2. HAIR CARE PRODUCTS

Denman International Limited, UK

BIL made it first foray into cosmetic products in 1996 with a strategic
distribution alliance with Denman International Ltd, UK, to market the
renowned Denman range of hair brushes in India and the SAARC region.

Denman International Limited (DIL) is a subsidiary of Denroy Group,
established in 1972. DIL is the UKs largest manufacturer and supplier
of hairbrushes and hair accessories, which are exported to more than 72
countries worldwide. The company works in partnership with other
companies from the hairdressing industry and has a reputation for
developing innovative products. Most of the worldwide patents for
hairbrushes are IPR of DIL.

DIL is now entering into a manufacturing agreement with Brushman, which
gives BIL the manufacturing right to make select Denman products in
India on a licence basis. 34 varieties of combs/brushes have been
identified and original Denman tooling is in India for commencing
exports to Denman. BIL plans to set up the manufacturing facility at
Pantnagar (Uttaranchal)

Sales Network for Denman products in India is largely retail oriented.
Some ranges of Denman hairbrushes are exclusively meant for the
salons, which are routed through the Professional Salon network.

DIL has invested in 8,25,000 equity shares of Brushman India) Limited,
which were allotted on preferential basis U/S 81(1A) on 28.09.2005.
Keune Hair Cosmetics Exports B.V, Holland

In 2001, after developing a Retail/Salon Distribution Network, BIL
entered into distribution agreement with Keune Haircosmetics B.V.,
Holland.

Keune, a family owned Dutch company, develops and manufactures
exclusive hair cosmetics since 1922. It has an image of credibility
based on more than 80 years of experience and possesses one of the best
research laboratories in Europe. Keune has a wide range of products
including Tinta Colors consisting of 78 Color Shades, Shampoos,
Conditioners, Gels, Mousses, Hairsprays, treatment line of lotions for
dandruff, falling hair, dry hair etc.

For Keune products the marketing network is primarily the Professional
channel comprising of salons and beauty parlours.

Keune Hair Cosmetics, B.V. Holland has invested in 7,00,000 equity
shares of Brushman India) Limited ,which were allotted on preferential
basis U/S 81(1A) on 28.09.2005.

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