Information Given to Stock Exchanges

Intimation of Board Meeting on September 17, 2007

The Board Meeting to be held on September 17, 2007, We wish to inform you that the feasibility report on the proposal of acquisition of M/s. Ewak Creative Compusoft Ltd., Chennai is yet to be completed and hence it will not be taken up for discussion and the proposal is being dropped.

Other agenda items viz., acquiring Two International Software Development Companies based in USA and one Software Product Company for the consideration of not more than 15 Million USD will be discussed at the ensuing board meeting.

The Company believes that these proposed acquisitions will enhance the Company's growth considerably and march forward to the target of 100 Million USD in top line by the year 2010. The acquisition will be funded by GDRs/ FCCBs/ Private placement/ Rights/ Public issue.