EREDENE CAPITAL PLC

Developing dedicated IT infrastructure offices in Bangalore and Chennai

The Eredene Group is investing up to INR 160 million (£2 million) for a 36.5% stake in a company developing high-end dedicated IT offices in South India.

The company, Sribha Infrastructure Solutions Pvt Ltd, is initially building an IT office tower in Bangalore. The tower is scheduled to be ready for occupation in 2010.

Sribha aims to provide captive space to its sister company, SGT Global, as well as to third party IT companies. Half the space in the tower under construction in Bangalore has been taken up by SGT Global, which is a leading global provider of Information Technology, business process outsourcing, call centres and engineering services

This is the Eredene Group’s first investment in Bangalore which together with Chennai is a major industrial hub, and Information Technology and Information Technology Enabled Services centre. More than 50% of the country's IT and software industry is based in the two cities.

SGT is a leading global provider of Information Technology, business process outsourcing, call centre and engineering services. SGT singularly focuses on helping companies improve speed, quality and cost effectiveness in key knowledge processes. Today, over 350 professionals service clients across diverse industries. SGT is a US-based company with headquarters in Houston, Texas and additional offices in Boston, Massachusetts; Detroit, Michigan; and multiple offices in Bangalore and Chennai, India. SGT’s estimated revenue for the financial year 2008 is US$14 million. (www.sgtglobal.com)