Sterlite Technologies Limited (formerly, Sterlite Optical Technologies Ltd), India’s leading global provider of Power Transmission Conductors, Optical Fibers and Telecommunication Cables today announced that it has received a contract from Ethiopian Electric Power Corporation (EEPCo), Ethiopia for manufacture and supply of AAAC Power Transmission Conductors. The contract is valued at US$ 17.5 Million (approximately INR 700 Million) and as per customer requirements; the deliveries are scheduled from April 2008 through September 2008.

Sterlite was chosen as the sole manufacturer and supplier for over 17,000 km of ‘AAAC Conductors’ that would be installed in the 4,000 km route length of the ‘Accelerated Electrification Programme (AEP) Project’ being executed under World Bank funding in Ethiopia.

Sterlite has a fortified its market share to about 14% in Africa & the Middle East with its Power Transmission Conductors products sold in 32 countries across the region to reputed Turnkey, Utilities and Infrastructure companies such as SONELGAZ - Algeria, EEPCo - Ethiopia, KPLC – Kenya, PHCN – Nigeria, ESKOM - South Africa and FEWA - UAE, to name a few.

For the 9-months in FY 2007-08, Sterlite’s export sales for its Power Conductors accounted for about 35% of total revenues from sale of its Power Conductor products. The Company currently supplies about 27% of India’s total demand for power transmission & distribution conductors.

Says Mr Pravin Agarwal – Director, Sterlite Technologies Limited, “We are honored to partner with EEPCo for this project. With over a decade of experience with the varying requirements of our customers in global markets, supported with state-of-the-art integrated manufacturing facilities, we believe that Sterlite is uniquely positioned to deliver significant value to all our business partners.”

Sterlite is a significant contributor to the global power sector through indigenous manufacture of a complete range of power transmission conductors at Extra High Voltages (400kV - 800kV), High Voltages (66kV – 220kV) and power distribution conductors (11kV- 33kV). The Company has a cumulative manufacturing capacity of 115,000 MT (Metric Tons), making it the largest manufacturer in India and amongst the Top 5 global manufacturers of Power Conductors.

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About Sterlite Technologies Limited

Sterlite Technologies Limited (formerly, Sterlite Optical Technologies Ltd) is India’s leading global provider of Optical Fibers, Telecommunication Cables and Power Transmission Conductors. It is India's only fully integrated Optical Fiber producer and one of the largest suppliers of Optical Fibers to overseas markets in China, Europe and South East Asia.

Sterlite Technologies Limited is listed on the National Stock Exchange and Stock Exchanges at Mumbai and Kolkatta.

The Company has a world class Optical Fiber manufacturing plant located at Aurangabad, India and Telecom Cable & Power Transmission Conductor plants at Silvassa, Haridwar & Pune, India.

For further information about the Company, please visit www.sterlitetechnologies.com

About Ethiopian Electric Power Corporation (EEPCo)

Ethiopian Electric Power Corporation (EEPCo) is a company responsible for power Generation, Transmission, Distribution and Sales of electricity all over the nation.

EEPCo manages and operates power-generating facilities, the national transmission and distribution grids, and is also responsible for the supply of electricity to more than 777,000 customers.

For further information about the Company, please visit www.eepco.gov.et

Note: Exchange rate considered: 1 US$ = Rs 40

Forward-looking and cautionary statements

Certain words and statements in this release concerning Sterlite Technologies Limited and its prospects, and other statements relating to Sterlite Technologies’ expected financial position, business strategy, the future development of Sterlite Technologies’ operations and the general economy in India, are forward looking statements. Such statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements of Sterlite Technologies Limited, or industry results, to differ materially from those expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding Sterlite Technologies’ present and future business strategies and the environment in which Sterlite Technologies Limited will operate in the future. The important factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements include, among others, changes in government policies or regulations of India and, in particular, changes relating to the administration of Sterlite Technologies’ industry, and changes in general economic, business and credit conditions in India. Additional factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements, many of which are not in Sterlite Technologies’ control, include, but are not limited to, those risk factors discussed in Sterlite Technologies’ various filings with the National Stock Exchange, India and the Bombay Stock Exchange, India. These filings are available at www.nseindia.com and www.bseindia.com