Mumbai-based IRB Infrastructure Developers Limited, an infrastructure development and construction company in India with significant experience in the roads and highways sector, has received SEBI observations for its public issue of 51,057,666 Equity shares of Rs 10 each through 100% book building process.

Deutsche Equities India Private Limited is the Sole Global Coordinator and BRLM for the Issue and Kotak Mahindra Capital Company Limited is the Co-BRLM for the Issue.

IRB Infrastructure Developers Limited is the holding company of the IRB Group. Its infrastructure development portfolio consists of 12 BOT projects in the roads sector, including the value additions to the Mumbai-Pune Expressway and four-laning of the Mumbai Pune section of NH-4 and expansion and improvement of the Bharuch to Surat section of NH-8.

The Company's construction business complements its infrastructure development business and involves engineering, procurement and construction work for projects in the roads sector. IRB Infrastructure Developers has been involved in the construction, operation and maintenance of approximately1,200 km of highways and roads in India as of Aught 31, 2007.

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Note "IRB Infrastructure Developers Limited is proposing, subject to market conditions and other considerations, a public issue of its equity shares and has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India. The DRHP is available on the website of SEBI at www.sebi.gov.in and the respective websites of the Sole Global Coordinator and BRLM at www.db.com/india and the Co-BRLM at www.kotak.com .

This press release does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any equity shares, nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision. Any potential Investors should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to any Red Herring Prospectus that may be filed with the Registrar of Companies in future including the section titled "Risk Factors". This document is not an offer of securities for sale in the United States or elsewhere. The shares of the Company are not being registered under the Securities Act and may not be offered or sold in the United States unless registered under the Securities Act or pursuant to an exemption from such registration.