Mumbai, April 24, 2007

Hinduja TMT (HTMT) has successfully demerged its ITES-BPO business into a separate company called ‘HTMT Global Solutions Limited.’

Post this demerger, there would be two companies listed on the stock exchanges namely ‘Hinduja TMT Limited’ and ‘HTMT Global Solutions Limited’.

While Hinduja TMT Limited is re-commencing trading in the Stock Exchange from Tuesday 24th April 2007, HTMT Global Solutions Limited is expected to list at an early date subject to completion of regulatory approvals.

A brief of both the companies is as under:

Hinduja TMT Limited (www.hindujatmt.com)
Hinduja TMT Ltd. will be the majority owners of India’s leading integrated Media company, IndusInd Media & Communications Limited (IMCL) which has presence in the businesses of Digital media distribution, Broadband Internet, Cable Movie and Home Shopping Channels, Financing content production & content aggregation.

The company started operations in 1995 with analog cable TV distribution service in several cities. It upgraded its facilities for providing digital cable TV by installing over 6000km of fibre optic cables.

The digital media distribution division of IMCL currently delivers more than 180 channels to 14 cities in digital mode. IMCL was one of the first companies to initiate Cable Broadband for internet services through Cable modem and LAN. The Content division of IMCL runs Premium Cable Bollywood Movie Channel ‘CVO’ which has the largest Hindi movie library of 1000+ movies, and associations with leading banners in the Indian film industry to offer a full range of services including production, funding & distribution. CVO reaches 50 cities with 8 million household viewership. Shop24Seven is telecast on the IMCL network and is available on timeslots through other satellite channels throughout India and Overseas. It currently has customers in India, Middle East and Europe.

IMCL leases its spare capacity in the fibre optics network to reputed telecom companies such as Hutch, Tata and Railtel. IMCL is already providing twin play (Video content & Internet data) and is readying to provide ‘triple play’ through its network.

As of March 2007, IMCL had posted Total Revenues of approximately Rs.270 crores (provisional & unaudited) and PAT of approx. Rs.99 crore (provisional) which includes Rs.86 crore profit from the Hutch stake sale. IMCL continues to be a debt free company.

As on date, Hinduja TMT owns 63% of IndusInd Media & Communications Limited (IMCL). Additionally, it holds cash ‘Rs.511 crores’ and owns 47 acre property in Bangalore.

The paid up capital of Hinduja TMT is approximately Rs. 20.53 crores and Networth of about Rs.587 crores as on December 31, 2006.

HTMT Global Solutions Limited (www.htmtglobal.com)
HTMT Global Solutions Ltd. (HTMT Global) is the new company formed as a result of the demerger. It is a ‘one-stop-shop’ for customer needs in Information Technology Enabled Services space – from Business Process Outsourcing (BPO) to Contact Center services.

HTMT Global excels in providing outsourcing solutions that include Back Office Processing, Contact center & Customized IT services to its global clientele comprising of several Fortune 500 companies. HTMT Global has domain expertise across verticals like banking & Financials Services, Consumer Electronics, Healthcare & insurance, Telecommunications etc. It has an integrated delivery model with 19 delivery centres spread across USA, Canada, Mauritius, Philippines and India.

From a beginning of 23 agents in 2000, today HTMT Global has over 9500 employees servicing more than 60 clients across the globe.

The Company has world-class infrastructure. HTMT Global Solutions is amongst the few BPO businesses that is HIPPA complaint and has BS 7799 & ISO 9001:2000 quality certifications. It has received several industry accolades, the most recent being the award for the Best Performing Call Centre worldwide by the Global Services Magazine, in January 07. HTMT has also been ranked amongst the Best under a $1 billion Company in Asia by Forbes.

With its existing revenue run rate of Rs.585 crore, HTMT Global, will be one of the largest listed BPO Companies in India. HTMT Global has a war chest of about USD 115m (approximately Rs.500 crore) to help the company pursue its goal of becoming a USD 500 million company by 2010 through its organic and inorganic growth initiatives.

The paid up capital of HTMT Global is approximately Rs. 20.53 crores and Networth of approximately Rs.650 crore as on December 2006.

About Hinduja Group
The Hinduja Group is one of the largest transnational business conglomerates in the word with diversified operations. Founded in 1914 by Shri P.D. Hinduja the Group provides a range of products and services worldwide. The Group’s activities are divided into three core areas such as, Investment Banking, Global Investments and the International Trading. The Hinduja Group is quick to grasp new opportunities and is expanding its investments and advisory services across international markets. As part of the Global investment the group owns stakes in Automotive, Information Technology, Entertainment and Communications, Banking and Finance, Infrastructure Project Development, Agri business & Energy, Real Estate and Healthcare.

For more information please contact:

Mr. Anil Velde @ 9833079684
Mr. Jayaram Ramanathan – Clea PR, Mumbai, @ 9867212997