Mumbai, October 29, 2007

Financial Results

Hinduja TMT Limited (proposed to be renamed as Hinduja Ventures Limited ‘Hinduja TMT’) at its Board Meeting today announced Un-audited Consolidated Results for the First Half Year of 2007 – 08.

Consolidated Total Income of Hinduja TMT for the six months ended 30th September, 2007 stood at Rs. 124.98 crore and Net Income after Minority Interest stood Rs. 29.55 crore. Previous period figures are not comparable due to demerger of IT/ITES business and consolidation being carried out for the first time during this year by the Company.

For the quarter ended 30th September, 2007, on a Consolidated basis, Hinduja TMT reported a Total Income of Rs. 64.28 crore and Net Income of Rs. 15.46 Crore after Minority Interest.

Subsidiary Results (IMCL):

The financials of major subsidiary IMCL reported healthy Income from operations of Rs. 90.22 crore as compared to Rs. 79 crore a rise of 12 % year on year for the Six months ended September 30, 2007, excluding one time gain from Hutch stake sale. IMCL’s Profit after Tax at Rs. 10 crore shows a growth of 150% over the same period in the previous year. IMCL’s PAT for the Second Quarter stood at Rs. 5.51 crore as against Rs. 4.59 crore for the Quarter ending 30th June, 2006, registering a growth of 20%.

Hinduja TMT Limited (www.hindujatmt.com):

Hinduja TMT Limited is the holding company of one of the India’s largest integrated media company called IndusInd Media and Communication Limited (IMCL). IMCL is one of the largest multi system operators in the country. With approximately more than 6 million subscribers across 15 major cities, the Company offers 170 channels in the digital mode (it also offers about 90 channels in the analog mode, which are a part of the digital package). It has a backbone of over 6000 kms of fibre optic network through which it offers broad band services with national ISP license. Over and above Digital cable distribution, the company is also into content creation, acquisition & aggregation. IMCL has successfully implemented the first stage of CAS by installing over 120,000 set top boxes in the CAS notified areas and over 30,000 in non CAS area. The company is fully geared to meet the subsequent phases of the CAS roll out as per Govt regulations. IMCL also runs a shopping channel ‘Shop 24/7’ through its associate company. ‘Shop 24/7 runs on IMCL network and through other satellite channels through out India and overseas. It currently has business in Middle East and Europe.

About Hinduja Group

Hinduja Group is an investment and banking group with a diversified global portfolio of holdings across the manufacturing, services and banking sectors.  The Group, founded by Shri P.D.Hinduja in 1914 has activities across three core areas: Investment Banking, International Trading and Global Investments. It also supports charitable and philanthropic activities across the world through the Hinduja Foundation. As part of its Global investments, the Group owns businesses in Automotive, Information Technology, Media, Entertainment & Communications, Banking & Finance, Infrastructure Project Development, Chemicals & Agri business, Energy, Real Estate and Healthcare.

To know more about the Hinduja Group and our Group Companies, please visit us at www.hindujagroup.com.

For Hinduja TMT Limited

 Authorized Signatory

For Further details contact

Mr. Dilip Panjwani                                                                
Company Secretary & Manager                                              
Hinduja TMT Ltd
9820288481