• Quarterly revenue increased to $685.4 million, up 33% from the year-ago quarter.
• Quarterly diluted EPS on a GAAP basis was $0.35, compared to $0.27 in the year-ago quarter.
• Quarterly diluted EPS on a non-GAAP basis was $0.39, excluding $0.04 of stock-based compensation and stock-based Indian fringe benefit tax expenses, compared to $0.30, excluding stock-based compensation expense of $0.03, in the year-ago quarter.

Revenue for the quarter increased to $685.4 million, up 6.6% sequentially from $643.1 million in the first quarter of 2008, and up 33% from $516.5 million in the second quarter of 2007. GAAP net income was $103.9 million, or $0.35 per diluted share, compared to $82.3 million, or $0.27 per diluted share, in the second quarter of 2007. GAAP operating margin for the quarter was 17.5%. Excluding stock-based compensation expense of $10.5 million and stock-based Indian fringe benefit tax expense of $5.9 million, non-GAAP operating margin was 19.8%, in line with the Company’s targeted 19 to 20% range. Reconciliations of these non-GAAP financial measures to GAAP operating results and diluted EPS are included at the end of this release.

“Despite continued uncertainty in the marketplace, we exceeded our quarterly revenue guidance and our sequential growth once again outpaced our peer group in the second quarter,” said Francisco D’Souza, President and CEO of Cognizant. “Several of our business segments, including Financial Services, performed well during the quarter. Furthermore, we generated continued strong performance across Europe and healthy growth from our Business/Knowledge Process Outsourcing and IT Infrastructure Services practices as a result of clients’ focusing on cost efficiencies.”

“Due to the continued deterioration in the macroeconomic environment and sagging consumer and business confidence, we are adopting a more conservative stance for the remainder of the year. However, we remain optimistic about our long-term growth prospects given that our pipeline of large deals remains healthy, our market position remains strong and the trend towards increasing offshore spending continues, driven by secular changes in industry dynamics, pressures to find cost efficiencies or, in some cases, both.”

2008 Outlook—Third Quarter & Full Year

Based on current visibility, the Company is now providing the following guidance:

• Third quarter 2008 revenue anticipated to be at least $723 million.
• Third quarter 2008 diluted EPS expected to be $0.37 on a GAAP basis, and $0.41 on a non-GAAP basis, which excludes $0.04 of estimated stock-based compensation and stock-based Indian fringe benefit tax expense.
• Fiscal 2008 revenue is anticipated to be at least $2.81 billion.
• Fiscal 2008 diluted EPS expected to be at least $1.44 on a GAAP basis, and $1.61 on a non-GAAP basis, which excludes $0.17 of estimated stock-based compensation and stock-based Indian fringe benefit tax expense.

“Although we are disappointed with the necessity of reducing our outlook for the second half of the year due to the weakening economy, we are pleased to continue our expectation of industry leading growth and a healthy long-term outlook for the business,” said Gordon Coburn, Chief Financial and Operating Officer. “We continue to invest across the markets we serve, deepening our consulting and domain capabilities and expanding our services offerings in areas such as Business/Knowledge Process Outsourcing and IT Infrastructure Services in order to extend our leading competitive position. At the same time, we are focused on managing our expenses and increasing utilization in order to optimize our operating performance while we invest for the long term success of the business.”

Conference Call

Cognizant management will host a conference call today, July 31, 2008, at 5:00 p.m. (Eastern) to discuss operating performance for the quarter. To participate in the conference call, domestic callers can dial (800) 374-0467 and international callers can dial (706) 679-3288 and enter the Conference ID number: #56611874. The conference call will also be available live via the Internet by accessing the Cognizant web site at www.cognizant.com. Please go to the web site at least fifteen minutes prior to the call to register, download and install any necessary audio software.

For those who cannot access the live broadcast, a replay will be available by dialing (800) 642-1687 for domestic callers and (706) 645-9291 for international callers and entering “56611874” from two hours after the end of the call until 11:59 p.m. (Eastern) on Thursday, August 7, 2008. The replay will also be available at Cognizant’s web site www.cognizant.com for thirty days following the call.

Source: Press release distribution via India PRwire

About Cognizant

Cognizant (NASDAQ: CTSH) is a leading provider of information technology, consulting and business process outsourcing services. Cognizant’s single-minded passion is to dedicate our global technology and innovation know-how, our industry expertise and worldwide resources to working together with clients to make their businesses stronger. With more than 40 global delivery centers and over 59,000 employees as of June 30, 2008, we combine a unique onsite/offshore delivery model infused by a distinct culture of customer satisfaction. A member of the NASDAQ-100 Index and S&P 500 Index, Cognizant is a Forbes Global 2000 company and a member of the Fortune 1000 and is ranked among the top information technology companies in BusinessWeek’s Info Tech 100, Hot Growth and Top 50 Performers listings. Visit us online at www.cognizant.com.

Net income for the first quarter of fiscal 2009 was $0.8 million, or $0.03 per diluted share, compared to $2.7 million, or $0.13 per diluted share for the first quarter of fiscal 2008. Earnings per share for the first quarter of fiscal 2009 reflects a 23% year-over-year increase in diluted shares outstanding primarily due to the successful completion of the Company’s initial public offering.

The Company ended the first quarter 2009 with $94.8 million of cash and cash equivalents, short-term investments and long-term investments.

Kris Canekeratne, Virtusa’s Chairman and CEO, stated “In the first quarter, our business excluding British Telecom was inline with our expectations, growing 20% year-over-year. This was driven by strength in our financial services industry group, as well as by increased contribution from our non-Top 10 clients, validating our belief that recent client additions will build the foundation for sustainable, long term growth.” Canekeratne continued, “British Telecom continues to be a strategic partner, and we remain confident in the long term success of the relationship.”

“We remain committed to managing our business for long-term, profitable growth,” said Tom Holler, Chief Financial Officer. “Our current guidance for 2009 reflects revised revenue expectations for British Telecom and near-term general economic weakness. Our guidance also considers plans to increase utilization and expand profit margins in the second half of this fiscal year,” Holler concluded.

In addition, Virtusa’s board of directors authorized a share repurchase program of up to $15 million of the Company’s common stock over the next twelve months. Share repurchases under the program may be made through open market purchases or privately negotiated transactions in accordance with applicable federal securities laws, including Rule 10b-18 of the Exchange Act of 1934. While the board of directors has approved the share purchasing guidelines, the timing of repurchases and the exact number of shares of common stock to be purchased will be determined by the Company’s management, at its discretion, and will depend upon market conditions and other factors. The program will be funded using the Company’s cash on hand and cash generated from operations. The program may be extended, suspended or discontinued at any time. The Company’s fiscal year 2009 current financial guidance does not consider any potential impact from the share repurchase program.

Financial Outlook

Virtusa management provided the following current financial guidance:

• Second quarter 2009 revenue is expected to be in the range of $41.5 to $43.0 million, with diluted EPS of $(0.06) to $0.01.

• Fiscal year 2009 revenue is expected to be in the range of $172 to $180 million, with diluted EPS of $0.20 to $0.42.

The Company’s second quarter and fiscal year 2009 diluted EPS estimates assume an average share count of approximately 24.4 million (assuming no further exercises of stock-based awards and assuming the realization of net profit in the fiscal second quarter) and assumes a stock price of $6.42, which was derived from the average closing price of our stock over the five trading days ended on July 25, 2008. Deviations from this stock price will cause actual EPS to vary based on share dilution from Virtusa’s stock options and stock appreciation rights. The second quarter and fiscal year 2009 average share counts do not consider the impact of the new share repurchase program. The second quarter and fiscal year 2009 average share counts are higher year-over-year by approximately 5%, primarily due to the Company’s IPO in August 2007.

Conference Call and Webcast

Virtusa will host a conference call today, July 30, 2008 at 5:00 pm Eastern time to discuss the Company’s first quarter 2009 financial results, current financial guidance and other corporate developments. To access this call, dial 888-277-7115 (domestic) or 913-312-0660 (international). A replay of this conference call will be available through August 6, 2008 at 888-203-1112 (domestic) or 719-457-0820 (international). The replay passcode is 9514892. A live webcast of this conference call will be available on the “Investors” page of the Company’s website (www.virtusa.com), and a replay will be archived on the website as well.

Source: Press release distribution via India PRwire

About Virtusa Corporation

Virtusa is a global information technology (IT) services company providing IT consulting, technology implementation and application outsourcing services. Using its enhanced global delivery model, innovative platforming approach and industry expertise, Virtusa provides cost-effective services that enable its clients to use IT to enhance business performance, accelerate time-to-market, increase productivity and improve customer service.

Founded in 1996 and headquartered in Massachusetts, Virtusa has offices in the United States and the United Kingdom, and global delivery centers in India and Sri Lanka.

"Virtusa" is a registered trademark of Virtusa Corporation.

The company’s consolidated Net Sales for FY08 stands at Rs 1147.37 crore, as against Rs 827.76 crore last year. For the year ended March 31, 2008, PAT climbed 39.28% YoY to Rs 128.19 crore from Rs 92.03 crore.

Manaksia’s standalone net sales for the FY 2008 is Rs. 731.81 crores, while profits stood at Rs.41.01 crores, an increase of 33%.

Speaking on the results, Mr. Dilip Patodia, CFO of Manaksia Ltd. said, “Increase in profits and turnover were mainly due to increase in sales of metal products, both in India and Nigeria.”

MINL, the Nigerian subsidiary of Manaksia, will take the scrap route to produce 200,000 tons of steel rebars per annum for the construction industry in Nigeria. MINL already produces steel galvanized sheets, aluminium roofing and color-coated sheets for the construction industry. The company is in the process of acquiring land near their existing factory in Ota for this project.

MINL, which had taken over Jebba Paper Mills Ltd. From the Nigerian Government in 2006, will commence production during the current fiscal. Initially, it will manufacture around 40 tons per day using waste paper as raw material.

The Board of Directors also approved the proposal for setting up a subsidiary company in Mauritius to facilitate international investments.

Manaksia is revamping its ERP system and installing SAP across all its establishments. Price Waterhouse has been appointed to advise the company in implementing the new system.

Source: Press release distribution via India PRwire

About Manaksia Limited

Manaksia commenced its operations as manufacturer of metal closures in 1984 but has since diversified its business into value added metal products and mosquito coil. It has fifteen manufacturing units in India and three abroad; two in Nigeria and one in Ghana. Since its incorporation, it has responded to the challenges by redefining its core competencies and unleashing restructuring process.

The company had a follow-on public offering in December 2007, when it raised Rs 248 crores. The funds were earmarked for reduction of high cost debts and de-bottlenecking equipment for its steel and aluminium rolling mills at Haldia, West Bengal. While high cost debts amounting to Rs 60 crores has been paid off, a sum of Rs 9.74 crores has so far been spent on the de-bottlenecking equipment and Rs 25.93 crores ahs been spent towards general corporate purposes. The balance funds are held in short term instruments of mutual funds pending utilization.

The company’s steel rebars project at Kutaisi, Georgia, CIS, is progressing and the first phase is expected to start producing in the next fiscal.

The total income of the Company has registered a growth of 16% compared to the previous year from Rs.10973.36 Lacs to Rs. 12741.96 Lacs. The Net Profits have grown by about 39% to Rs. 1938.63 Lacs compared to the previous year. The significant improvement in the Net Profits of the Company is on account of effective utilization of raw materials and decrease in manufacturing expenses on account of better utilization of resources.

While the Auto business division of the Company contributed around 92% of the Company, White Goods division, electrical and construction division contributed the remaining 8 % of the Turnover. During the year the installed capacities of the Company increased from 47.50 Lakh KG to 59.00 Lakh Kg mainly on account of setting up of Electrical Mainline Division at Badarpur New Delhi. This division has received its first commercial order from its Australian Collaborator and deliveries against these have started from the month of January, 2008.

During the Financial year 2007-08 the Company was awarded for Outstanding Performance in the category of Cost by Honda SIEL limited. Toyota Kirloskar Motors Limited gave the Best Vendor Award to the Company in the Category of Cost, Quality, Zero PPM and Best Quality Supplier (Delhi Region).

The New Plant at Surajpur Industrial Area, Greater Noida, UP for which funds were raised through an IPO during the year, is in advanced stage of implementation and commercial production at this plant is expected by September, 2008

PPAP is a leading manufacturer of high quality automotive sealing systems and exterior products in India. The company has six state of the art manufacturing facilities, which are located in New Delhi and Noida UP. All the plants are TS 16949, ISO 14001 and OHSAS 18001 certified. PPAP's core competence is in Plastic Extrusion and Injection molding.

In association with Tokai Kogyo Co. Ltd. (Japan), the Technical Collaborator of the company, today PPAP is the single biggest supplier of Automotive Sealing Systems, Profiles And Extrusions to Maruti Udyog Limited (The Biggest Automobile Manufacturer in India), Honda SIEL, Krishna Maruti, Toyata Kirlosker, TS Techson, Fiat India And General Motors India Limited. The automotive product range includes Weather-strips, Body Side Moldings, Roof Trims and Moldings, Windshield Moldings, Quarter Window Trims, Door Opening Trims and Fuel Hoses.

PPAP is also the largest OEM supplier of Rigid PVC Extrusions to all the Refrigerator and Visi-cooler (Commercial Refrigerators) manufacturers in India. In addition the company also caters to the furniture, electrical, building and construction industry. This product range includes refrigerator bottle-shelf and wire-shelf trims, Visi-cooler Door and Thermal Breaker profiles, Chest-freezer Profiles, Rolling Shutter Profiles (Tambour Door profiles), Door Sash, Extruded parts with decorative foil and various other post extrusion processes. In this field again, the company has managed to secure an 'Excellent' quality rating from OEM's such as Carrier, Electrolux, Godrej, Videocon, Voltas and Blue Star etc.

PPAP's export division supplies customized extruded parts to various industries overseas. These products are being exported to many countries such as the UK, Australia, New Zealand, France, Italy, countries in the Middle East etc.

Source: Press release distribution via India PRwire

About Precision Pipes & Profiles

Established in the year 1978 as partnership Firm with the name of M/s Precision Pipes and Profiles Company and converted into a Public Limited Company in the year 1995 with the name of Precision Pipes and Profiles Co. Ltd. (PPAP) (a CRISIL SME1 Rated Company). PPAP is the principalmanufacturer of Specialized Profiles and Extruded Products in India and supplies to Original Equipments Manufacturers (OEM’s) working in association with companies around the world to create products that satisfy a host of customer requirements. T he Company has never looked back since its inception and soon went on to become the largest, single source supplier of Import substitution products for the automobile and white goods industry.

In association with Tokai Kogyo Co. Ltd. (Japan), the Technical Collaborator of the company, today PPAP is the single biggest supplier of Automotive Sealing Systems, Profiles And Extrusions to Maruti Udyog Limited (The Biggest Automobile Manufacturer in India), Honda SIEL, Krishna Maruti, Toyata Kirlosker, TS Techson, Fiat India And General Motors India Limited. The automotive product range includes Weatherstrips, BodySide Moldings, Roof Trims and Moldings, Windshield Moldings, Quarter Window Trims, Door Opening Trims and Fuel Hoses.

Power plant goes on stream

Meanwhile, the 10 Mega Watt (MW) biomass based power plant of the Power Division of Empee Distilleries Limited at Aranthangi in Pudukottai went on stream recently. The Group will supply the entire quantity of clean renewable energy to the Tamil Nadu Electricity Board. The power plant is generating 60 lakh units of power per month.

“The Tamil Nadu Energy Development Agency (TEDA) awarded three licences to the Empee Group to set up biomass-based power plants at Pudukottai, Perambalur and Thiruvaroor District. The project at Aranthangi in Pudukottai District has been commissioned and will qualify for carbon emission reduction certificates (CER’s). The Group is contributing to a global cause by mitigating carbon-dioxide emissions through the use of biomass for the project,” Empee Group Chairman Mr. M. P. Purushothaman said.

For a Green cause

“At present, we are buying the biomass required for the plant from growers. We will soon set up our own captive tracts for biomass development as our requirement is very huge. The biomass plants grow afresh every time they are harvested and we tap the energy available within the plant to generate electricity. The entire energy thus produced will be added to the state power grid through the Tamil Nadu Electricity Board,” company sources revealed.

Source: Press release distribution via India PRwire

About Empee Group

Chennai-headquartered Empee Group with well established and diversified corporate interests earns revenues of over Rs 1,000 crore. The Group was founded by Mr. M. P. Purushothaman in the early 1970s. The Group has created strong brands with focus on quality with state-of-the-art manufacturing facilities in Tamil Nadu and Kerala. The flagship Empee Distilleries Limited has a turnover of over Rs. 800 crore. The Group has diversified into various core businesses including liquor, beer, sugar, chemicals, grain alcohol, hospitality, property development, power, packaging and construction.

Taurus International, a leading HR and career building organization, has launched the coveted “Work & Travel” program which allows regular college students to get a temporary summer job for a maximum period of 4 months in the USA. The 4-month assignment, while giving exposure to the working environment in the USA, enables the student to earn enough money to pay for the trip and live comfortably while working.

The “Work & Travel” program is a Department of State, US Government initiative which invites regular college students from across the world to come to USA on temporary jobs during their summer vacations from May to August, earn money and experience the American culture and life. Being a US Govt. sponsored program chances of getting a US work visa (J1 work/exchange visa) are very good.

The students can go on pre-arranged jobs of their choice in the Retail, Hospitality, Entertainment, Tourism and other fields, earning about US $8 to $12 per hour. Students can join their jobs between May 1 and June 30, 2008 and continue up to August to October. Students doing Degree courses in Hospitality can also avail of this opportunity to do practical training in USA for a semester. The students must be from a regular college (not correspondence), above 18 years of age and have good English language skills. They should be studying in the 1st or 2nd year of an Under Graduate course or the 1st year of a Post Graduate course, and be required to return to India to complete their remaining education.

Giving details of the “Work & Travel” Program, Col. Kulwinder Singh, Managing Director, Taurus International said, “This is a unique opportunity for our students. As the program pays for itself, it is an ideal platform for them to gather international exposure and experience which will prepare them and give them an edge for their professional life later. Students will be able to travel, meet other students from across the globe and learn about different cultures as well as improve their communication skills and overall personality.” Striking a note of caution however, he further added, “Students should look at this opportunity to visit, work, earn, holiday and experience the American way of life and not to reach USA and stay there illegally.”

Council on International Educational Exchange, USA who are partners of Taurus International, have been designated by the US Dept. of State to administer this J1 Visa program since 1969 and they sponsor thousands of students from across the Globe every year for this program. Taurus International is looking at sending close to a 100 students to the USA this year for the “Work & Travel” program.

The Registration process has already started and anyone needing more information can contact Taurus International through their website – www.taurusin.com

Source: Press release distribution via India PRwire

For further information, please contact:
Leena Narula / Banarsi P. Singh
Pulse Communications
9810376029 / 9990703387

Besides the 1st Interim Dividend @ 60%, on 20th August, 2007, the Board has declared its 2nd Interim Dividend @ 40% for the year 2007-08 to the shareholders.

Mr. Sunder Genomal, Managing Director, Page Industries Limited said, “Sales of the Company has been growing at CAGR of 36% and the net profit has been growing at CAGR of 48% during the last three years. The retail boom that we are witnessing now, coupled with the increased brand consciousness and the increased spending power of the consumers will aid our growth in the inner wear and leisure wear segments.”

Source: Press release distribution via India PRwire

About Page Industries Limited

Page Industries Ltd. (Bangalore, India) are specialists in the development and production of high quality underwear for men, women, and children, and are the licensees of Jockey International Inc. (USA) for manufacture and distribution of the Jockey brand in India and Sri Lanka. The promoters - Genomal group, established the company in 1994. The Genomal group companies have been the licensees for the Jockey and Speedo brands in the Philippines since 1959 and 1988 respectively. The companies are run by the second generation Genomal Family, sons of the group founder and guiding spirit, the late Topandas Genomal.

Page Industries exports underwear and sportswear worldwide. Its customers include Jockey licensees in Europe, Middle East, and Asia, Jockey UK, Jockey USA, as well as other top class underwear brands. The Jockey hallmark of quality is applied to every product delivered. With the backing and active involvement of seasoned promoters combined with a highly skilled and dedicated team, Page is committed to the manufacture of world class products

Page Industries Ltd. have been independently audited and approved by internationally recognized ‘Intertek Testing Services (ITS)’ for Safety and Production systems. The company has also been certified by the USA based ‘Worldwide Responsible Apparel Production (WRAP)’ for stringent adherence to universally acceptable principles covering Labor, Human Relations and all applicable local laws pertaining to industrial production.

For more information please contact:
Kheman Kumar / Moumita Rudra - Good Relations India Pvt Ltd
Email: kheman@gri.co.in / moumita@gri.co.in
Mobile: 9871829296 / 9871062245

Announcing this Mr. Naresh Garg, Principal Officer, Sahara Mutual Fund said, “As always has been the policy of Sahara Mutual Fund, to act in the best interest of its investors, the Trustees are glad to announce a dividend of Rs. 5.00 per unit (50%) under Sahara Midcap Fund.”

Sahara Midcap Fund is an open-ended equity scheme incorporated with an objective to achieve long –term capital growth at medium level of risks by investing primarily in mid cap stocks. The selection of stocks in the portfolio is based upon sound financial and business fundamentals. The choice of stocks is from the mid-cap universe.

The companies, whose shares are selected for investment, are the promising high growth companies having potential to become large companies of tomorrow. These companies are in the businesses which would experience impressive growth rates as the Indian economy grows.

With the increasing investment opportunities in the economy, the growth engines would continue to run for the years to come. The investment style of the Sahara Midcap Fund is to capture this growth in its portfolio by the judicious selection of stocks with the prime objective of creating value for our investors. The construction of the portfolio is well diversified having an optimum number of quality stocks to maintain a medium risk level.

The scheme also has the facility of SIP (Systematic Investment Plan) offered to its investors to counter volatility and invest regularly to benefit from the growth.

Since its inception, the portfolio has generated impressive returns. The absolute returns generated by the scheme for different time periods.

Performance (%) of Sahara Midcap Fund

Returns as on September 21, 2007 ------ NAV ------ 3 Months ------ 6 Months ------ 1 Year ------ Since inception(annualized)

Sahara Midcap Fund (Dividend Option) ------ 20.4858 ------- 10.18% ------ 35.64% ------ 41.32% ------ 36.57%

Source: Press release distribution via India PRwire

About Sahara Mutual Fund

Founded in 1978, Sahara India Group, has over the years emerged as a multi-service and multi-product business conglomerate with diverse interests in fields such as Para Banking, Housing &Infrastructure, Tourism and Hospitality, Media and Entertainment etc.

Sahara India Financial Corporation Limited is the flagship investment arm of the Sahara India Group. The company is the first Residuary Non-Banking Company (RNBC) in India that has been granted certificate of registration by RBI and is considered to be the largest public deposit mobilization company in the Private Sector. Sahara Asset Management Company Private Limited is the Investment Manager to Sahara Mutual Fund.

This year has been a year of sustainable growth for the company with Aditya Infotech consolidating its position as one of the top leading search engine marketing companies. The company’s evolution has been complete from being a search engine optimizer to a search engine marketer. The company has been soliciting enquiries for association from businesses the world over.

The company has gained the reputation of being smart content managers with its Directories Division successfully positioning portal www.easy2source.com as a top business and trade information source. During the next year, the company intends to consolidate its position in the information department and aims to become the source, the world will depend upon.

The results of persistent hard work are mirrored in the company’s Gifts & Accessories Magazine division. The circulation of the printed edition of the magazine has increased rapidly and the magazine is now a well-known entity amongst some of the renowned manufacturers, suppliers, and corporations across India.

This year, the company launched the Gifts & Accessories e-magazine edition which evoked a positive and pleasant response, with portals www.easy2source.com and www.corporategifts.easy2source.com easing the only one of its kind magazine into the electronic media. Since then, the magazine has grown from being India’s only Corporate Gifts & Accessories Magazine in print to India’s only Gifts & Accessories Magazine both offline and online.

With the company scaling new heights every year, the mood in the office amongst the personnel of the company is always upbeat, and the results are there to be seen for all.

For the year 2007-08, the company has decided on a plan of action to continue practicing good business ethics and strengthen foundations based on value creation and consolidation of growth. The directors recommended dividend at 7% on the face value of Re. 1 per equity share, and the same was approved at the Annual General Meeting held on August 30, 2007. The company is poised to surge ahead and grow from strength to strength.

Source: Press release distribution via India PRwire

Listed on the BSE (Bombay Stock Exchange), Netlink Solutions India Limited houses India's First Gifts & Accessories Magazine, a Business to Business Magazine with editions in print, on compact disc, and online (giftsnaccessories.com), and with several titles related to advertising and promotions. NSIL's Directories Division includes internet's well-known easy2source.com, gnaol.com, and a vast number of industry-wise categorized websites like corporategifts.easy2source.com, handicrafts.easy2source.com, etc. (some complete and some with work in progress), dedicated to information and content management. Netlink also houses Search Engine Marketers Aditya Infotech, the company's prized Information Technology Division.

The Board of Directors has approved payment of the 2nd Interim Dividend of 120% i.e. Rs.6 per share of par value of Rs.5 each for the year ended December 31, 2006. Earlier in November 2006 an interim dividend of 50% i.e. Rs.2.50 per share was paid. This takes the total dividend for the year to 170% or Rs.8.50 per share. In view of this, no final dividend has been recommended by the Board.

Ranbaxy Laboratories Limited & Subsidiaries

For the year 2006, the Company recorded Consolidated Sales of Rs. 60,652 Mn [USD 1,339 Mn] (2005: Rs. 51,880 Mn, USD 1176 Mn), registering a growth of 17%. Profit before interest, depreciation, tax and amortization was at Rs. 9,390 Mn [USD 207 Mn] (2005: Rs. 3,727 Mn, USD 85 Mn), an increase of 152%. Profit before tax before exceptional items was at Rs 6,510 Mn [USD 144 Mn] (2005: Rs 1,611 Mn, USD 36 Mn), up 304%. Profit after tax was at Rs. 5,154 Mn [USD 114 Mn] (2005: Rs. 2,642 Mn, USD 60 Mn), recording an increase of 95%

Earnings per share on a fully diluted basis were Rs.13.17 (2005: Rs. 6.84).

Global Sales

For the year 2006, consolidated sales stood at USD 1339 Mn, an increase of 17%*. The sales growth was driven by North America and the BRICS markets which together accounted for 65% of total sales as against 61% in the corresponding period. These markets had combined sales of USD 869 Mn, recording an increase of 25%. The international business recorded sales of USD 1060 Mn, up 18% and contributed 79% to total sales.

*Excluding discontinued operations (Allied Businesses)

Source: Press release distribution via India PRwire

About Ranbaxy Laboratories

Ranbaxy Laboratories Limited, headquartered in India, is an integrated, research based, international pharmaceutical company producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies. Ranbaxy’s continued focus on R&D has resulted in several approvals in developed markets and significant progress in New Drug Discovery Research. The Company’s foray into Novel Drug Delivery Systems has led to proprietary "platform technologies", resulting in a number of products under development. The Company is serving its customers in over 125 countries and has an expanding international portfolio of affiliates, joint ventures and alliances, ground operations in 49 countries and manufacturing operations in 9 countries.

For more information, visit www.ranbaxy.com.

"In 2006, the Company generated record revenues and record earnings as we continue to experience strong performance on our operating fronts," said Managing Director & CEO, GV Kumar. "The financial results are a testament to our business model, and are reflective of our ability to leverage our product innovation and customer focus strategy in the telecom segment to take advantage of where the opportunities lie. We will continue to focus on the US market apart from our forays into other newer markets. In 2007, we expect to continue our organic growth coupled with inorganic growth through M&A in telecom segment focused in North American and European geographies. Telecom would continue to be the driving force for Megasoft” added Mr. Kumar

Financial HIGHLIGHTS

• 10% Dividend declared on combined capital
• Revenues of 1783.3 Mn and Net income of 329.7 million, making the year its most successful in history
• Earnings before income taxes of Rs. 351.7 million for the year ended December 31, 2006, as compared to earnings before taxes of Rs. 208.8 million for the comparative period in 2005
• Net earnings of Rs. 329.7 million for the year ended December 31 2006, as compared to net earnings of Rs. 201.1 million for the comparative period in 2005
• Includes Visualsoft’s Revenues of 180.9 mn and profit of 4.5 mn for Q4 of 2006.
• Earnings per share increased to Rs. 9.30 from Rs. 7.57 for the previous year; YoY growth of 21%
  

Source: Press release distribution via India PRwire

About Megasoft Limited

Established in 1994, Megasoft is a transnational Intellectual Property-driven, product-based technology company that focuses on its expertise in the growing Telecom sector. The company has initiated a strategic transition – from a midsized IT services company to a leading domain-led Intellectual Property (IP)-driven technology company. Megasoft is a SEI CMM Level 4 company that operates out of USA, UK, Singapore, Malaysia and Germany, and in Hyderabad and Chennai in India. Megasoft is publicly listed in the Bombay Stock Exchange. Megasoft has a January~December Financial Year. After the amalgamation of Xius with it in 2004, Megasoft’s Telecom offerings are now being offered to Telecom operators across all continents. The Current Amalgamation of Visualsoft Technologies has given a strong product engineering and product development capacities with CMM level 5 certification. Additional information about Megasoft is available at www.megasoft.com.

For further information contact:
V Balasubramanian (CFO) +91 98665 57474
bala.v@megasoft.com
Tel:+ 91 40 2341 2266

Tanuja Abhinandan +91 98192 48980
tanuja.abhinandan@adfactorspr.com
Tel: +91 22 2287 1361

The Interim Dividend, together with the tax thereon, will absorb a sum of Rs. 209.84 crores and will be paid to those persons whose names stand registered in the Books of the Company as on 26th March, 2007, the Record Date fixed for the payment of Interim Dividend.

Over and above this, the Board will take a decision on final dividend when it meets to adopt the accounts for the year ended 31st March, 2007.

Source: Press release distribution via India PRwire

For further enquiries, contact:
Ms. Roma Balwani
Sr. GM - Head, Corporate Communication
Phone: (+91-22) 24975176
Fax: (+91-22) 2490 0830
Email: balwani.roma@mahindra.com

Commenting over TCI’s continued good performance in its Q3 results, Mr. Vineet Agarwal, Executive Director TCI said, “With a firm focus on internal efficiencies, aggressive investment plans and cutting-edge technology, we have been able to achieve impressive growth this quarter. Moreover, with the Indian economy on an upswing, emergence of India as a global manufacturing hub and the boom in the retail sector, the third-party logistics sector in India has received a fillip. With the Government laying its thrust on development and augmentation of infrastructure, especially in the roads and highways, railways and ports, the logistics and supply chain management industry is bound to get a further impetus.”

“We plan to consolidate our presence in the warehousing sector by establishing multi-user warehousing facilities, spread over 2-2.5 lakh sq ft. across the Country. To sustain the momentum in growth, we would be investing Rs.450 crore in warehousing, trucking, shipping and IT systems over the next four years. He further added.

Source: Press release distribution via India PRwire

About Group TCI

Group TCI, with revenues of over Rs.1000 crores, is India's largest integrated supply chain and logistics solutions provider .TCI group has an extensive network of over 1100 Company owned offices, with expertise developed over 5 decades and a team of over 5000 trained employees With its customer-centric approach, world class resources, State-of-Art technology and professional management, the group follows strong corporate governance and is committed to value creation for its stakeholders and social responsibilities. TCI was the first to launch several solutions in the logistics field. Its product offering includes:

• Transport Division: The Transport division provides FTL (Full Truck Load), LTL (Less Than Truck Load), FCL (Full Container Load), and ODC (Over Dimensional Cargo) services with its mammoth fleet and unmatched network of offices.
• XPS: A leading express logistics service provider offering door-to-door Surface & Air cargo and Courier services.
• XPS Global: Provides International Freight Forwarding and Customs Clearance.
• TCI Supply Chain Solutions: The focused division of Group TCI provides single-window customized logistics and supply chain solutions to its many customers across several industry segments. Its range of services includes milk run and JIT deliveries to the consumer durables and automobile industries and warehousing, outbound transportation & distribution to the retail, two-wheeler, FMCG and the tractor industry. The division has concluded many contracts across several industries to provide its services most of which have been rolled-out and commenced operations.
• Transystem Logistics International Ltd.: Provides automotive logistics solutions to Toyota Kirloskar Motors Limited and is a TCI - Mitsui & Co. (Japan) Joint Venture.
• TCI Foundation: As the group’s social arm, Fulfils corporate social responsibility and runs charitable hospitals and schools for the under-privileged in the rural areas. It is also the beneficiary of the Bill & Melinda Gates Foundation for AIDS interventions and education among the vulnerable trucking community.

Scheme - Dividend per unit - *Record date
DSP Merrill Lynch Equity Fund - Rs. 7.00 - January 25, 2007

The dividend shall be payable only to those Unit Holders whose names appear in the register of Unit Holders of DSP Merrill Lynch Equity Fund as on January 25, 2007. Applications for subscription, redemption, switch-ins and switch-outs for the scheme will be accepted on January 25, 2007, subject to them being complete in all respects and received prior to 3.00 p.m.

Past performance may or may not be sustained in the future and should not be used as a basis of comparison with other investments. * Dividend declared on face value of Rs.10. NAV will fall to the extent of the pay out after dividend declaration. NAV of DSP Merrill Lynch Equity Fund as on 19-Jan-07 was Rs. 47.859

Source: Press release distribution via India PRwire

About DSP Merrill Lynch Equity Fund

DSP Merrill Lynch Equity Fund (DSPMLEF) is an open ended growth scheme, seeking to generate long term capital appreciation, from a portfolio that is substantially constituted of equity securities and equity related securities of issuers domiciled in India.

Asset Allocation: Equity & equity related securities: approximately upto 90%. Debt & money market securities: approximately upto 10%. Features: Declaration of NAV on all Business Days. Redemption normally within 3 Business Days. Sale and Redemption of Units on all Business Days at Purchase Price and Redemption Price.

STATUTORY DETAILS: DSP Merrill Lynch Mutual Fund was set up as a Trust by the settlors, DSP Merrill Lynch Ltd. (DSPML) and Merrill Lynch Investment Managers LP, USA. Sponsors: DSPML, HMK Investment Pvt. Ltd. and ADIKO Investment Pvt. Ltd. (collectively) (Liability restricted to Rs. 1 lakh). Trustee: DSP Merrill Lynch Trustee Company Pvt. Ltd. Investment Manager: DSP Merrill Lynch Fund Managers Ltd.

RISK FACTORS: Mutual funds, like securities investments, are subject to market and other risks and there can be no assurance that the Scheme’s objectives will be achieved. As with any investment in securities, the NAV of Units issued under the Scheme can go up or down depending on the factors and forces affecting capital markets. Past performance of the sponsor/AMC/mutual fund does not indicate the future performance of the Scheme. Investors in the Scheme are not being offered a guaranteed or assured rate of return. The Scheme is required to have (i) minimum 20 investors and (ii) no single investor holding>25% of corpus. If the aforesaid point (i) is not fulfilled within the prescribed time, the Scheme will be wound up and in case of breach of the aforesaid point (ii) at the end of the prescribed period, the investor’s holding in excess of 25% of the corpus will be redeemed as per SEBI guidelines. DSP Merrill Lynch Equity Fund is the name of the Scheme and does not in any manner indicate the quality of the Scheme, future prospects or returns. For risk factors related to trading in derivatives and overseas investments, and other scheme specific risk factors, please refer the Offer Document. For more details, please refer to the Key Information Memorandum cum Application Form, which is available at the ISC/Distributor. Please read the Offer Document before investing.

Issued for and on behalf of DSP Merrill Lynch Investment Managers by,
Sampark Public Relations Pvt. Ltd.
Rajat Chandihok/Lalit Pandey
Tel: 011-41731526

Reliance has launched its MMS service which offers a vibrant and personalized messaging experience to its subscribers. By utilizing the Aicent MMS gateway service, Reliance mobile subscribers can stay in touch by sharing photos, audio and video messages with their friends and family across India and around the world. India is currently the fifth largest telecommunications market in the world, with more than three times the number of mobile phone connections than fixed line connections.

"Reliance has been at the forefront to introduce innovative applications that have redefined the scope of mobile telephony for our many million customers. We are glad to offer domestic and international MMS services to cater to the fast growing popularity of data and video applications among Reliance Mobile customers. With the launch of this interconnectivity we invite all other operators to integrate and to connect with Reliance's subscriber base," said Mahesh Prasad, President - Application Services Group, Reliance Communications.

"We are excited to partner with Reliance to add value to their subscribers' messaging experience in India," said Lynn Liu, President and CEO of Aicent. "Aicent's global footprint and flexible, innovative service features enhance user's experience and operator's revenue streams. We continue to demonstrate our world-class mobile data expertise established by our data roaming, messaging and other next generation mobile data services."

About Reliance Communications: Reliance Communications is India's foremost integrated Telecommunications Company with over 25.7 million Indian and 700,000 global individual consumers. Reliance Communications corporate clientele includes 600 Indian and 250 multinational corporations, and -- through subsidiary FLAG Telecom -- over 200 global carriers.

The company has a pan-India, next generation, integrated (wireless and wireline), convergent (voice, data and video) digital network that is capable of supporting best-of-class services spanning the entire Infocomm value chain. Recent news releases and further information are on Reliance Communications website at: www.reliancecommunications.co.in.

About Reliance ADA Group: Among India's top three private sector business houses, with a market capitalization of Rs 100,000 crore (US$ 22 billion), net assets in excess of Rs 31,500 crore (US$ 7 billion), and net worth to the tune of Rs 27,500 crore (US$ 6 billion).

The group has a customer base of over 50 million, the largest in India, and a shareholder base of over 8 million, among the largest in the world. Through its products and services, the Reliance - ADA Group touches the life of 1 in 10 Indians every single day. The business presence of the Group extends to over 4,500 towns and 300,000 villages in India, and 5 continents across the world. The interests of the Group range from communications (Reliance Communications) and financial services (Reliance Capital Ltd), to generation, transmission and distribution of power (Reliance Energy), infrastructure and entertainment. Recent news releases and further information are on Reliance ADA Group website at: www.relianceada.com.

Source: Press release distribution via India PRwire

About Aicent, Inc.

Aicent Inc. is a leading provider of data network services and solutions for global mobile operators. Aicent operates one of world's largest GRX networks with direct connections to nearly 50 operators, collectively serving more than 500 million mobile users. Through extensive peering arrangements, Aicent network reaches nearly all GPRS/3G operators around the world. Aicent also operates one of world's first and largest MMS Inter-working services, and provides SMS hubbing, mobile messaging delivery and other value added services across all types of 2.5G/3G mobile networks.

The company is headquartered in San Jose, California with regional offices in Americas, Asia Pacific and Europe. For more information, please visit: www.aicent.com.

The highlight of this year's bonus announcement is a return of 8.21% declared for the Best Years' Retirement Plan.

Since beginning operations in September 2001, ING Vysya Life has achieved a strong market position in South India and is aggressively expanding operations throughout the rest of the country. Rated as a leading life insurance provider among private sector players, ING Vysya Life is now present in over 70 cities and has 130 b ranches.

Kshitij Jain, Managing Director & CEO of ING Vysya Life, stated: "Our bonus declaration reflects ING Vysya Life's strong and consistent performance in our fifth full year of operations.

We believe that this stable foundation will help us ac hieve more robust growth going forward." The company has sixteen life insurance products including three Unit Linked products Freedom Plan, Future Perfect and One Life Single Premium and one non participating Term and Critical Illness product Conquering Life. The bonus rates declared apply to the 11 traditional products and the Best Years' Retirement Plan.

Press enquiries:

ING Vysya Life

Shalini Naik, 080 2532 8000, shalini.naik@ingvysyalife.com

Hanmer & Partners

Anita Ramkumar/ Deepak M, 080 2525 2234, 98864 11614, anita@hanmerpr.com

About ING Vysya

ING Vysya consists of three businesses in India, ING Vysya Life In surance, ING Vysya Bank and ING Vysya Mutual Fund. ING Vysya Bank is a premier private sector bank with a 70-year heritage and two million satisfied customers. ING Vysya Mutual Fund is a mid sized asset management company with a retail investor focus.

About ING Group

ING is a global financial institution of Dutch origin offering banking, insurance and asset management to over 60 million private, corporate and institutional clients in more than 50 countries. With a diverse workforce in excess of 117,000 people, ING comprises a broad spectrum of prominent companies that increasingly serve their clients under the ING brand.

Source: Press release distribution via India PRwire

www.hanmerpr.com

The cheque presented today represents interim dividend for the year 2005-06 at the rate of 30 per cent (Rs. 3/- per share) on the paid up equity capital of Rs. 630 crore of the Government's holding in the Corporation which works out to Rs. 189 crore.

MTNL has been paying dividend at the rate of 45 per cent on its equity capital of Rs. 630 crore. During the last 5 years an aggregate amount of Rs. 1607 crore has been paid as dividend to shareholders including Rs. 904 crore to the Government towards their shareholding in the Company.

Source: Press release distribution via India PRwire

The Press Information Bureau is the nodal agency of the Government of India to disseminate information to the print and electronic media on government policies, programme initiatives and achievements. Functioning as an interface between the Government and the media, PIB also provides feedback to the Government as reflected in the media.

PIB functions through its corps of Departmental Publicity Officers attached to various Ministry and important government organizations. Acting as interface between media and the government, these officers also advise Ministries on media matters. Special feedback digests are prepared analysing country-wide coverage of major happenings and decisions. Over 2.5 lakh clippings on important issues and events are digitized in a year.