Philips, the high quality, low cost bike from TI Cycles

Delhi, March 8, 2004: TI Cycles of India is now offering another first. The lowest priced quality bicycle — Philips — for the consumers of Standard bicycles at an all inclusive price of Rs 1199 only.

With a price that is at least 20 per cent - 25 per cent lower than other similar products available to the consumer, he will now have the option of saving up to Rs 300-Rs 350 on this product and using that money for other important needs in his life.

The consumer will therefore greatly benefit from years of T.I experience and its investment in R&D that has resulted in this product. Extensive Research carried out in test markets clearly indicates that Philips bicycles will not just be appreciated for their good looks but also preferred because consumers who "post test ride" it find it faster than other bikes. In depth analysis reveals that this perception of "faster speed" comes from the fact that consumers find the bicycles much easier to ride and manoeuvre than other comparative products currently available in the market. "In fact, for the first time, the consumer will have a choice to buy a quality product from a reputed manufacturer at as low a price as Rs 1199 only" – G. Hari, President, TI Cycles.

The cycle is being launched by TI Cycles in select markets of Punjab, Haryana and Delhi and its extension in the rest of the country will be done only on post evaluation of results after the test launch. In order to ensure that the product reaches the consumers at the right price, TI Cycles is undertaking an extensive consumer awareness campaign through Radio and Press in the focus markets. Distributors have been appointed to efficiently service market requirements.

TI Cycles of India, a unit of Tube Investments of India Ltd. is part of the Rs.4200 crore Murugappa Group, which has a strong presence in engineering, bio-products, sanitaryware, plantations, sugar, farm inputs, finance, general insurance and nutraceuticals. Murugappa Group is a pioneer and market leader in several fields with operations across 12 States in India.

For further details please contact:
Mr Mohit Khattar,
Vice President
Mobile: 098403 58205