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Rolta Announces Acquisition of Piocon Technologies, Inc.

December 29, 2008

Mumbai, December 29, 2008 - Rolta, one of India's leading Engineering and IT companies, today announced the acquisition of Piocon Technologies, Inc. of Chicago, IL, USA. Through this strategic move, Rolta has acquired a unique template-based solution that addresses critical operational needs of refineries in the Oil & Gas sector. This solution is field-proven, and has been deployed successfully in multiple refining facilities of one of the world's largest oil companies. The solution was recognized by Oracle with the Titan award for Piocon's innovative approach to integrating business intelligence tools with enterprise-level engineering databases and applications to provide operational excellence, reliability metrics and reporting for more than 100,000 pieces of equipment and hundreds of operations throughout the large refinery. Since the date of deployment of this solution, the customer has experienced no unplanned shutdowns due to reliability-related incidents, a time span more than 6 times this refinery's historical average and 3 times its previous record. The solution can be scaled to address process improvements in a refinery to achieve downtime reduction, inventory rationalization, optimization of crude selection, and improved refinery planning. Industry experts believe that when fully deployed, the Rolta solution could save as much as $20M annually for a medium-sized refinery, ensuring very high returns on their investment and allowing for business decisions to be made expeditiously.

The Piocon solution is based on the Institute of Nuclear Power Operations (INPO) AP-913 standard, which was originally developed to ensure equipment reliability within the nuclear power industry, but is now widely accepted by other process industries. Therefore, this solution is eminently suited to be extended beyond refinery operations to up-stream and down-stream operations in Oil & Gas, and to other industry segments like petrochemicals, mining, power, and especially highly regulated sectors like pharmaceuticals and nuclear power. With Rolta's domain expertise in engineering and Rolta's own IP in the area of Services Oriented Architecture, Data Integration and Business Intelligence, Rolta is in an exceptional position to take the Piocon solutions to the next level of sophistication. Based on market research, it has been estimated that the size of the addressable market for such solutions would be of the order of $1B annually.

The Piocon acquisition is a part of Rolta's systematic growth plans to provide configurable solutions that address the real challenges faced by industry today. With Piocon, Rolta has acquired its impressive track record of over 15 years, a significant customer base including Fortune 100 companies, highly experienced consultants, unique methodologies and technologies, ongoing customer contracts, and a profitable revenue stream in a fast-growing market. This acquisition, like the others in the past, enables Rolta to not only expand the scope of its services, but also elevates its offerings to address the decision-support needs of the CXO level executives for improving operational efficiencies in the process and power industries.

Speaking on the occasion, Mr. K. K. Singh, Chairman and CEO, said, "The move to add Piocon's Operational Excellence and Business Intelligence solutions to our portfolio reflects our commitment to growth through the delivery of higher value solutions for our customers. This acquisition will help Rolta to fulfil a critical and strategic need of the process and power industries at a time when every plant is challenged more than ever before to improve operating efficiencies".

About Rolta: Rolta is an Indian multinational organization that has executed projects in over 40 countries. The Company is a strong player in the Defence, Government, Infrastructure and Security markets, worldwide. Rolta serves these markets by providing innovative solutions in Geospatial Information Systems (GIS); Engineering & Design Services (EDS); and Enterprise Information & Communications Technology (EICT), which includes Software Development, Advanced Security, Network Management, Oracle Apps, ERP Consulting and Business Intelligence. Rolta, through its joint venture with The Shaw Group Inc. USA - Stone & Webster Rolta Ltd., provides comprehensive Engineering, Procurement and Construction Management (EPCM) services to meet turnkey project requirements of power, oil, gas and petrochemical sectors. Rolta's joint venture with Thales, France - Rolta Thales Ltd., develops and provides state-of-the-art C4ISTAR information systems, Military Communications, Digital Soldier & Vehicle System solutions, covering the entire "sensor to shooter" chain, under transfer of technology from Thales. By innovatively blending the capabilities of OnPointTM, iPerspectiveTM and other business intelligence tools from its bank of Intellectual Properties, the Company has launched Geospatial FusionTM, a very unique solution that enables instantaneous fusion of various disparate geospatial & non-spatial databases and software applications for generating real-time reports and immediate decision-making. Rolta, headquartered in Mumbai, employs over 5,000 professionals with a countrywide infrastructure and international subsidiaries across the globe. The Company has benchmarked its quality processes with the world's best quality standards. Rolta is accredited with the prestigious BSI ISO/IEC 27001:2005 certification, the ultimate benchmark for information security; the BSI ISO/IEC 20000-1:2005 IT Service Management Standard, and the Company's software development business group has been assessed at the highest level of SEI-CMMI Level 5. Forbes Global has ranked Rolta amongst the "Best 200 Under a Billion" for four times in six years. Rolta has been included in the S&P Global Challengers ListTM 2008, by Standard & Poor's. This List identifies 300 mid-size companies worldwide that have a total market capitalization between US$ 1 to 5 Billion and have shown the highest growth characteristics along dimensions encompassing intrinsic and extrinsic growth. The Company is listed on the NSE in cash and F&O segment and forms part of CNX IT, NIFTY Midcap 50 and CNX 500 indices. The Company is also listed on BSE 'A' group and forms part of BSE Midcap, BSE 200, BSE 500, BSE IT and BSE TECK indices. The Company's GDR is listed on the Main Board of London Stock Exchange and its FCCB's are listed on the Singapore Stock Exchange.

For additional information

Rolta India Limited

Mr. Hiranya Ashar,
Director - Finance & Chief Financial Officer
Telephone: +91 (22) 2926 6666

Mr. A.P. Singh,
Joint Managing Director
Telephone: +91 (22) 2926 6666

Mr. Ben Eazzetta,
President, International Operations
Telephone: +1 (678) 942 5000

This press release includes statements that are not historical in nature and that may be characterized as "forward-looking statements", including those related to future financial and operating results, benefits and synergies of the Company's brands and strategies, future opportunities and the growth of the market for open source solutions. You should be aware that Rolta's actual results could differ materially from those contained in the forward-looking statements, which are based on current expectations of Rolta management and are subject to a number of risks and uncertainties, including, but not limited to, Rolta's ability to integrate acquired operations and employees, Rolta's success in executing its strategies, Rolta's ability to take a competitive position in the industry, business conditions and the general economy, market opportunities, potential new business strategies, competitive factors, sales and marketing execution, shifts in technologies or market demand, and any other factors. We may make additional written and oral forward-looking statements but do not undertake, and disclaim any obligation, to update them.

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