Rolta repurchases US $ 15.00 Mn FCCBs taking the total buyback to US $ 53.31 Mn (PRESS NOTE)

MUMBAI, December 24, 2009 – Rolta India Limited is pleased to announce that it has further repurchased US $ 15.0 Million of the outstanding Foreign Currency Convertible Bonds’s ( FCCB’s), of the original issue of Zero Coupon FCCBs of US $ 150 Million due in 2012. The Bonds of the accreted value of US $ 17.8 Million have been repurchased at a discount of 15.25% resulting in a gain of US $ 2.80 Million (approx Rs.13.00 crores).

In June 2009,the company had, through a tender offer, repurchased FCCB’s of the accreted value of US $ 43.67 million at a gross repurchase value of US $ Rs 32.75 million resulting in a gain of US$ 10.92 million ( Rs 53.50 crores). The aggregate accreted value of all repurchase of FCCB’s till date is US $ 61.47 million ( Face Value $ 53.31 million) and total amount paid aggregates US$ 47.75 million resulting in a gain of US $ 13.72 million (approx Rs 66.50 crores) giving an average discount of 22.3% to the accreted value on all buybacks. This gain has been appropriated into P&L and Reserves in the financial statements of the company. The Company has diligently worked to effect these repurchase transactions to not only take advantage of the window of opportunity provided by government regulations, but also to adopt procedures that kept the interest of investors in focus. With this the company has been able to repurchase 35.5% of the initial issue of Bonds and the aggregate principal value of the Bonds remaining outstanding will be US $ 96.69 Million following completion of this repurchase which are due for redemption in June 2012.

About Rolta
Rolta is an Indian multinational organization that has executed projects in over 40 countries. Rolta serves these markets by providing innovative solutions in Enterprise Geospatial Information Solutions (EGIS), Defense & Homeland Security; Enterprise Design & Operations Solutions (EDOS); and Enterprise Information Technology Solutions (EITS). Rolta, through its joint venture with the Shaw Group Inc. USA – Shaw Rolta Ltd. – provides comprehensive Engineering, Procurement and Construction Management (EPCM) services to meet turnkey project requirements of power, oil, gas and petrochemical sectors. Rolta's joint venture with Thales, France – Rolta Thales Ltd., develops and provides state-of-the-art C4ISTAR information systems, Military Communications, Digital Soldier and Vehicle System solutions, covering the entire “sensor to shooter” chain, under transfer of technology from Thales. Rolta, headquartered in Mumbai, employs over 4500 professionals with countrywide infrastructure and international subsidiaries across the globe. The Company has benchmarked its quality processes with the world's best quality standards. Rolta is accredited with the prestigious BSI ISO/IEC 27001:2005 certification, the ultimate benchmark for information security; the BSI ISO/IEC 20000-1:2005 IT Service Management Standard; and the Company has been assessed at Maturity Level 5 of the Capability Maturity Model Integrated CMMI SW version 1.1 in 2006. The Company is now engaged in upgrading to Maturity Level 5 of version 1.2. Forbes Global has ranked Rolta amongst the "Best 200 under a Billion" for four times in six years. Rolta has been included in the S&P Global Challengers ListTM 2008, by Standard & Poor’s. This List identifies 300 mid-size companies worldwide that have shown the highest growth characteristics along dimensions encompassing intrinsic and extrinsic growth. ROLTA was ranked at the #1 position in Human Relations (HR), and at the 3rd position in overall ranking in the 2009 DATAQUEST survey of Best Employers in the IT sector. The Company is listed on the NSE in cash and F&O segment and forms part of CNX IT, NIFTY Midcap 50 and CNX 500 indices. The Company is also listed on BSE 'A' group and forms part of BSE Midcap, BSE 200, BSE 500, BSE IT and BSE TECK indices. The Company's GDR is listed on the Main Board of London Stock Exchange and its FCCB's are listed on the Singapore Stock Exchange.