Financial Results

Hinduja Ventures (‘HVL’ – previously Hinduja TMT Limited) at its Board Meeting held today announced results for the first Quarter ended 30th June, 2008.

On a Consolidated basis, HVL reported First Quarter Total Income of Rs. 91.46 crore as compared to Rs. 60.69 Crore over the corresponding Quarter of the previous year, a rise of 50% over the previous year. The Net profit after Taxes and Minority Interest stood at Rs. 15.22 Crores as compared to Rs. 14.07 Crore, a rise of 8% over corresponding period. The increase in revenues and profits continued to be contributed to by healthy income of its Media Segment from its Subsidiary IndusInd Media & Communications Limited (‘IMCL’). The Media Segment contributed a rise of 48% in Total Income for the Quarter buoyed by channel placements.

Subsidiaries:

IMCL first Quarter earnings were Total Income of Rs. 65.93 Crore as compared to Rs. 44.52Crore and PAT of Rs. 4.61 Crore as against Rs. 4.51 Crore.

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Hinduja Ventures Limited (www.hindujaventures.com)

Hinduja Ventures Limited (previously Hinduja TMT Limited) is the holding company of

one of the India’s largest integrated media company called IndusInd Media and Communication Limited (IMCL). IMCL is one of the largest multi system operators in the country. With over more than 5 million subscribers across 15 major cities, the Company offers 200 channels in the digital mode (it also offers about 90 channels in the analog mode, which are a part of the digital package). It has a backbone of over 6000 kms of fibre optic network through which it offers broad band services with national ISP license. Over and above Digital cable distribution, the company is also into content creation, acquisition & aggregation. IMCL has successfully implemented the first stage of CAS by installing over 180,000 set top boxes. The company is fully geared to meet the

subsequent phases of the CAS roll out as per Govt regulations. IMCL also runs a shopping channel ‘Shop 24/7’ through its associate company. ‘Shop 24/7 runs on IMCL network and through other satellite channels through out India and overseas. It currently has business in Middle East and Europe.

About Hinduja Group

Hinduja Group is an investment and banking group with a diversified global portfolio of

holdings across the manufacturing, services and banking sectors. The Group, founded by

Shri P.D.Hinduja in 1914 has activities across three core areas: Investment Banking, International Trading and Global Investments. It also supports charitable and philanthropic activities across the world through the Hinduja Foundation. As part of its Global investments, the Group owns businesses in Automotive, Information Technology,

Media, Entertainment & Communications, Banking & Finance, Infrastructure Project Development, Chemicals & Agri business, Energy, Real Estate and Healthcare.

To know more about the Hinduja Group and our Group Companies, please visit us at

www.hindujagroup.com.