Kolkata, 5th October, 2010: Magma Fincorp Limited today announced a tie up with Caterpillar India and its dealers Gmmco and TIPL. The tie up is for providing financial solutions to the customers of Caterpillar's entire range of construction and mining machines as a preferred financier in India.

Commenting on the development, Mr. Ashutosh Shukla, Chief Operating Officer, Magma Fincorp Limited said, "We are looking forward to a successful association with Caterpillar India and its dealers Gmmco and TIPL. The tie up will help our continuous effort to provide finance for a wider range of products to our customers and also help widen our customer base across the country."

Magma Fincorp has strong infrastructure in semi urban and rural India. Magma offers finance for Construction Equipment, Commercial Vehicle, Passenger Cars and Utility Vehicles, Used Vehicle, Tractors etc. The company also provides SME Finance, thereby providing single window facility to the customers.

Peter Tegg, Managing Director Caterpillar Financial Services Asia Pte. Ltd, said "We are extremely excited about the tie up with Magma Fincorp as a preferred financier for our range of equipment. We believe this will help both companies to grow our respective businesses and help support the growth of India as a whole by providing more focus and enhanced service to the customer-base spread across the country."

About Magma Fincorp Limited

Magma Fincorp Limited ("Magma") is a non-deposit taking non-banking finance company (NBFC), registered with the Reserve Bank of India (RBI) as an Asset Finance Company. The Company, having started operations over two decades back, is listed on the Bombay Stock Exchange Limited and the National Stock Exchange in India.

Magma provides a bouquet of financial products including financing of Utility Vehicles & Cars, Commercial Vehicles, Construction Equipments, Tractors and SME Loans. Magma has a dedicated base of over 2.35 lac customers and has assets of approximately INR 9800 crores under management. The company has 170 branches in 20 states and 1 union territory and employs over 4800 people.

www.magma.co.in

About Caterpillar

For more than 85 years, Caterpillar Inc. has been making progress possible and driving positive and sustainable change on every continent. With 2009 sales and revenues of $32.396 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines. The company also is a leading services provider through Caterpillar Financial Services, Caterpillar Remanufacturing Services, Caterpillar Logistics Services and Progress Rail Services. More information is available at:

http://www.cat.com