Sterlite Technologies Limited (Sterlite), a leading global provider of Power Transmission Conductors, Optical Fibers and Telecommunication Cables recently announced that it has received three contracts from PGCIL (Power Grid Corporation of India) that have a cumulative value of INR 2.96 Billion (~US$ 74 Million). As per PGCIL’s requirements, supplies against these contracts would commence from August 2008.

PGCIL is India’s single largest buyer of Power Transmission Conductors and over the past decade, Sterlite has established itself as the single largest supplier for PGCIL’s pan-India requirements.

With the receipt of these new contracts, the Company has opened FY-09 with a total order book of INR 10.2 Billion
(~ US$ 257 Million) for its telecom & power businesses.

MANAGEMENT STATEMENT

Says Pravin Agarwal – Director, Sterlite Technologies Limited, “We are delighted to start our new financial year with a dominant share of orders released by PGCIL. With our expanded capacity for Power Transmission Conductors we believe Sterlite has the capability to maintain equilibrium in supply of our products to service the growing demand from the Indian market and to grow our global market shares.”

NEW CONTRACTS RECEIVED FROM PGCIL

Sterlite was chosen as the sole manufacturer and supplier for over 8,300 km of ACSR Conductors that would be installed in the 400 kV D/C Korba-Birsinghpur-Damoh-Bhopal Transmission Lines in the Indian state of Madhya Pradesh.

Sterlite was chosen as the sole manufacturer and supplier for over 3,100 km of ACSR & AACSR Conductors that would be installed in the 400 kV D/C Gorakhpur-Lucknow Transmission Lines in the Indian state of Uttar Pradesh.

Sterlite also received a contract for about 1,450 km of ACSR Conductors that would be installed in the 400 KV D/C Vapi-Navi Mumbai, 400 KV S/C Lonikhand-Kalwa & 220 KV D/C Vapi-Khadoli Transmission Lines in the Indian state of Maharastra.

- End -

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 Power Grid Corporation of India (PGCIL)

Power Grid Corporation of India (PGCIL), one of the largest Transmission Utilities in the world, was incorporated in October 1989 for establishment and operation of regional and national electrical power grids. About 40% (i.e. >200 BUs) of total power generated (i.e. >500 BUs) in the country is being transmitted over PGCIL’s owned transmission network. For more information about the Company, please visit www.powergridindia.com

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

Note: Exchange rate considered US$ 1 = INR 40