Sterlite Technologies Ltd. [BSE (Bombay Stock Exchange): 532374, NSE (National Stock Exchange of India, Mumbai): STRTECH], a leading global provider of optical fibers, telecommunication cables and power transmission conductors, today announced two major contract wins with Indian telecoms giant BSNL (Bharat Sanchar Nigam Ltd.). The contracts, which are for fiber optic cable and copper telecoms cable, respectively, are worth a total of Rs. 107 Crores (US$26.7 million) to Sterlite Technologies (“Sterlite”). As per customer requirements, the deliveries are scheduled between July and December 2008.

The first contract is for Sterlite’s RIBBON-LITE™ 96F ribbon fiber optic cables, which BSNL will install in about 900 city sites across the country in the rapidly growing FTTx (fiber-to-the-“x”) applications sector. The second contract is for a range of 10 to 2000-pair copper telecoms cables. These cables will also be installed at sites across India, to support the nation’s growing demand for ADSL broadband as well as basic telephony in rural and urban areas.

Sterlite is also currently in the process of fulfilling a third contract it recently received from India’s Mahanagar Telephone Nigam Ltd (MTNL). This deal is for the installation of an OSS / BSS (Operation / Business Support Systems) for the Metro Ethernet network Sterlite is installing for 200,000 broadband subscribers in Mumbai, India. The project is due to be completed during the financial year 2008-9.

K S Rao, Chief Operating Officer for Sterlite Technologies’ Telecom business, commented, “These latest contract wins are significant endorsements of BSNL & MTNL’s confidence in Sterlite’s technical capabilities & product reliability.”

"The booming FTTx and broadband ADSL technology areas are highly competitive and Sterlite’s telecom equipment, integration & managed services businesses are geared towards the available opportunities. By these latest contracts and our previous wins at both national and international levels, Sterlite is clearly demonstrating that we are a key enabler of broadband networks both in India and worldwide,” Mr Rao added.

Keeping in line with the sustained demand from the global telecom industry, Sterlite recently announced plans to triple its fiber optic cable manufacturing capacity of 6 million-fkm, from its current capacity of 2 million-fkm. This expansion is in conjunction with Sterlite’s optical fiber manufacturing expansion from 6 to 12 million-fkm. All of the Sterlite Fiber Optic products are manufactured at ISO 9001, TL 9000 & OHSAS 18001 certified facilities.

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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, power transmission conductors, telecom integration & managed services. 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 Ltd. is listed on the National Stock Exchange and Stock Exchanges at Mumbai and Kolkatta. The company has a world-class optical fiber manufacturing plant in Aurangabad, India, and telecom cable and power transmission conductor plants in Silvassa, Haridwar and Pune, India. For more information, please visit www.sterlitetechnologies.com

About Bharat Sanchar Nigam Limited

Bharat Sanchar Nigam Ltd. formed in October, 2000, is the world's seventh largest telecommunications company providing a comprehensive range of telecom services in India including: wireline, CDMA mobile, GSM mobile, Internet, broadband, carrier service, MPLS-VPN, VSAT, VoIP services, IN Services etc. Within a period of five years it has become one of the largest public sector units in India. BSNL has installed a quality telecoms network in the country and is now focusing on improving it, expanding the network, introducing new telecoms services with ICT applications in villages and winning customer confidence. Today, it has about 47.3 million lines of basic telephone capacity, 4 million with WLL capacity, 20.1 million with GSM Capacity, more than 37,382 fixed exchanges, 18,000 BTS, 287 satellite stations, 480,196 km of OFC cables, a 63,730 km microwave network connecting 602 districts, 7330 cities and towns and 550,000 villages. BSNL plans to expand its customer base from the present 47 million lines to 125 million lines by December 2007 and an infrastructure investment plan totalling $16.67 million (INR 715.1 million) over the next three years. For further information about the company, please visit www.bsnl.co.in

About Mahanagar Telephone Nigam Limited (MTNL)

MTNL was set up on 1 April, 1986 by the Government of India to upgrade the quality of telecom services, expand the telecom network, introduce new services and to raise revenue for telecom development needs of India’s key metros: Delhi, the political capital and Mumbai, the business capital of India.In the past 20 years, the company has taken rapid strides to emerge as India’s leading – and one of Asia’s largest – telecom operating companies. Besides having a strong financial base, MTNL has achieved a customer base of 5.92 million as of 31 March, 2006. The company has also been in the forefront of new technology introduction by converting 100% of its telephone exchange network into the state-of-the-art digital mode. For further information about MNTL visit www.mtnl.net.in

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 = Rs 40