January 13, 2009
Mumbai, January 13, 2009: Mumbai, Rolta India Limited, one of India's leading IT companies, specializing in Geospatial Information Systems (GIS), Engineering Design Services (EDS) and Enterprise Information and Communications Technology (EICT), would like to mention that it has come to the Company's notice that many rumours have been floated today, which have led to a sharp volatility in the company's stock price.
The company categorically states that all its operations and business are in order and that there are no new developments which have taken place that have any material impact on the company's operations and business.
Rolta has been communicating all material developments to the financial community through its releases and information sent to exchanges -- the last such event was the acquisition of Piocon Technologies in the last week of December 2008.
Rolta India Ltd. requests its investor and the public at large to ignore such rumours.
Rolta is an Indian multinational organization that has executed projects in over 40 countries. The Company is a strong player in the Defense, Government, Infrastructure and Security markets, worldwide. Rolta serves these markets by providing innovative solutions in Defense & Homeland Security, 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 - Shaw 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. Rolta is headquartered in Mumbai, 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 List™ 2008, by Standard & Poor's. This List identifies 300 mid-size companies worldwide that have a total market capitalization between US$ 1 & 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
Disclaimer: 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.