Mumbai, July 31, 2007

In the meeting held yesterday, HTMT Global Solution's Board of Directors approved the stand-alone and the consolidated financial results of the company for the year ended 31st March 2007 and for the Quarter ended 30th June 2007.

Q1 profits for FY07-08 grew to Rs. 17.87 Crores as against Rs. 6.23 Crores in the corresponding quarter a year ago, an increase of 187%. The company made revenues of Rs. 151.96 Crores, as against Rs. 81.80 Crores in the corresponding quarter last year. The company made a profit of Rs. 12.79 Crores, during the last quarter, representing a 40% growth Quarter on Quarter.

"The Board of Directors have recommended a dividend of 50% (Rs. 5/- per share) for the previous financial year ended 31st March 2007. This works out to an annualized dividend of 100%, considering the company's operations for 6 months with effect from 1st October 2006, being the appointed date of the demerger of the IT/ITES undertaking of Hinduja TMT Limited into the company.

53% of the company's revenues are not exposed to rupee appreciation risks and for most of the balance, the company had taken forward cover at very attractive rates at the beginning of the year . The residual Foreign Exchange risk is being covered by re-pricing some of the existing contracts with its customers. This has helped the company to stay ahead of the dollar depreciation."

Post its de-merger, HTMT Global Solutions is now a focused BPO player and is rated one of the top BPO service providers by Nasscom in July 2007. It has 20 delivery centers in 5 countries and headcount in excess of 11000 people. The company has over $100 million of surplus cash to fund acquisitions. Its M&A team is actively scouting for acquisitions in the BPO/KPO space. Currently, about 4 targets are in active consideration.