Avesthagen Limited, India’s leading knowledge based Life Sciences Company, today broke ground for its new corporate headquarters and R&D campus. This new fourteen storey campus spanning 400,000 sq ft will be built on a 2.63 acre plot in the International Technology Park Bangalore (ITPB). The new campus is expected to be ready by June 2010. The campus will house the company’s lab and research facilities, work stations, auditorium, service block and other facilities.

Dr. Villoo Morawala-Patell, Founder & CMD, Avesthagen Limited, said, "We are delighted to commence work on the new campus. Along with Ascendas we are proud to begin work on enhancing infrastructure facilities at Bangalore to make it a premier biotechnology destination globally. The center will provide a fully integrated technology platform and turnkey solutions for the production of various products to the biotech industry and the scientific community. "

The design is in sync with firm’s philosophy and will emphasize on natural elements such as trees, fountains, natural lighting and ventilations, etc. The new campus will house state of the art research & development facilities; the research facilities on the campus will go a long way in supporting high end global research in the field of bio-technology. Avesthagen is designing this campus on best-in-class sustainability principles to achieve energy efficiency, water sustainability, preservation and promotion of biodiversity and effective waste management.

This campus will be developed along with Ascendas, Asia's leading provider of business space solutions. Avesthagen will tap on Ascendas’ expertise in creating world-class business space and develop this project into one of the most preferred destinations in India.

Mr. Lim Sin Tiow, CEO, India Operations, Ascendas said, “It gives us great pleasure to work with Avesthagen Limited to build this new world class campus for biotechnology. This project reiterates our commitment to provide a wider range of business options to our customers for their expansion in India’s booming life sciences industry.”

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About AVESTHAGEN LIMITED

AVESTHAGEN LIMITED (www.avesthagen.com) is India’s leading integrated systems biology platform company that focuses on achieving convergence of food, pharma and population genetics leading to predictive preventive and personalized healthcare. It employs 600 people worldwide and is headquartered in Bangalore. Avesthagen Limited has established world class, state-of-the-art laboratory facilities in Bangalore. It began business operations in 2001.Since its inception Avesthagen has grown into one of India's leading healthcare technology group in India, and its activities include, in addition to its agri-biotechnologies product pipeline, development of clinically validated botanical bioActives, derived from Indian medicinal plants, as well as the development of a pipeline of bio-similar drugs. Avesthagen Limited has four strategic business units: bioPharmaceuticals, bioNutrition, bioAgriculture and Science & Innovation. Its partners include multiple top 10 global companies in each of its fields of research. Avesthagen Limited collaborates at every stage in the value chain with appropriate partners, both public and private, for access to and exchange of technology and overall commercial expertise to leverage the ‘India advantage’.

Disclaimer:
Avesthagen Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, a public issue of its equity shares and to file a Draft Red Herring Prospectus with SEBI. This announcement does not constitute an offer of equity shares for sale in any jurisdiction, including the United States of America, and any equity shares of the Company may not be offered or sold in the United States absent registration under the United States Securities Act of 1933, as amended, or pursuant to an exemption from registration.

ABOUT ASCENDAS IN INDIA

Ascendas develops IT Parks and hi-tech buildings, as well as Built-to-Suit and Ready-Built Facilities. Starting with the landmark International Tech Park Bangalore (ITPB), Ascendas has since followed on its success with CyberPearl and The V in Hyderabad, and International Tech Park Chennai (ITPC). Ascendas is also developing International Tech Park in Pune (ITPP) and CyberVale within Mahindra World City in Chennai. Ascendas will also be developing two integrated IT SEZ projects in Coimbatore and Gurgaon.

In June 2007, Ascendas launched the Ascendas India Development Trust (AIDT), a private development fund focusing on integrated property development projects. In August 2007, the Ascendas India Trust (a-iTrust) was launched as Singapore’s first listed Indian property trust.