Hinduja TMT in negotiations for divestment of its telecom investment

Mumbai, February 15, 2005:

Pursuant to the consolidation of the various Hutchison mobile telecom operations in India which was completed on 1st February 2005, Hinduja TMT Limited (HTMT), which held a stake in Fascel Limited through its subsidiary IndusInd Telecom Network Limited, has received 5.11% of the voting rights, or a 3.45% effective financial stake, in the consolidated Hutch entity, Hutchison Max Telecom Ltd.

The shareholders of the Hutchison Max Telecom Ltd have previously indicated that they intend to seek a listing of the company by 30th June 2005.

HTMT has received offers from some financial / strategic investors to buy out its holding in Hutchison Max Telecom Ltd which are being evaluated for maximizing shareholder returns.

About HTMT

Hinduja TMT Ltd. (HTMT) is one of India's premier IT houses, focusing on information technology enabled services (ITeS) and business process outsourcing (BPO) besides IT services. HTMT is ranked among the top 15 ITES-BPO players in India employing over 3800 people in Bangalore, Mumbai (India), Manila, (Philippines), New Jersey (USA) and Toronto (Canada).

HTMT's expertise is in the areas of Insurance, Financial services, Manufacturing, Telecom, Pharmaceutical Products, Consumer Electronics, Household Products, Energy and Utilities. With delivery centers in Bangalore, Mumbai, Manila, Toronto and New Jersey, the company has marketing offices in the USA, UK and Europe. HTMT has world-class infrastructure in line with global standards of environment, resources and deliverables. HTMT is one of the few companies in the BPO business that has output quality very close to six sigma standards and has set its eye firmly on a continuous improvement program. HTMT has been assessed for SEI CMM Level 4 for software development and is also ISO 9001:2000 and BS 7799 compliant.