News about Klg Systel Limited - National Stock Exchange of India Limited

September 22, 2006

The media had reports on September 21, 2006 that Klg Systel Ltd. has signed an outsourcing deal with discoms.

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.

Klg Systel Ltd has vide its letter inter-alia stated, "We deny having signed an outsourcing deal which will yield Rs. 4500 Crores in 10 years. However, we are providing IT and Outsourcing to various state Electricity Boards such as Punjab, Rajasthan, UP, HP, Uttranchal. In this context we would like to inform you that discussion is going on for implementation of SG 61/ Vidushi technology with various power distribution companies through Bijli Suvidha Kendras concept mooted by the Govt. of India. Complete technology for which is already developed by KLG. We shall let you know immediately on signing of any such deal."

Source: National Stock Exchange of India Limited

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