Rolta announces joint venture with Thales

Rolta is pleased to announce its Joint Venture with Thales, France. This JV will leverage the broad spectrum of cutting-edge technologies, systems and solutions from Thales, and Rolta's leadership position in the Indian market. To be owned 51% by Rolta and 49% by Thales, the JV will take advantage of technology transfer from Thales for developing state-of-the-art Command, Control, Communications, Computers, Intelligence, Surveillance, Target Acquisition and Reconnaissance (C4ISTAR) information systems, for domestic and international markets. Rolta and Thales have entered into an agreement today, and the JV will be incorporated on receipt of necessary approvals.

Mr. Bruno Rambaud, Directeur Général (Senior Vice President), Thales Land & Joint Systems Division, stated, "Increasing Thales footprint internationally depends on the success of strategic business alliances like the one we have formed with Rolta. The creation of this joint venture will be a significant milestone in our development within the Indian Defence and Homeland security markets. This win-win partnership will also leverage the resources and expertise of both companies to serve the global operations of Thales."

Mr. K.K. Singh, Chairman and Managing Director, Rolta India Ltd., commented, "We are extremely pleased to be partnering with Thales to form this Joint Venture. This is a major event in the history of our company and will play an important role in our growth. Guided by a set of common values, this JV will share best practices through transfer of technology and bring in state-of-the-art products into our country, enabling us to serve the nation better and address emerging opportunities worldwide".

About Thales

Thales is a leading international electronics and systems group, established in France more than a century ago, serving Defence, Aerospace and Security markets worldwide. The group's civil and military businesses develop in parallel to serve a single objective - the security of people, property and nations. With six divisions serving clearly defined markets, Thales is organised to remain close to its customers, sharing technologies and best practises across businesses and countries to combine world-class performance with unbeatable value for money. The six divisions draw on a common platform of technologies to deliver real-time information management and distribution solutions and complex system architectures to their customers. Leveraging a global network of high-level researchers it offers an unmatched capability to develop and deploy critical information systems worldwide. Thales employs 60,000 people in 50 countries and generated revenues of over US $13 billion in 2005, with a record order book of over US $25 billion.

About Rolta
Rolta is an Indian multinational organization that has executed projects in over 35 countries. Rolta is a leading provider and developer of information technology based GeoSpatial Information Systems (GIS), Engineering Design Automation Solutions and eSecurity services worldwide. Rolta, through its joint venture 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, headquartered in Mumbai, employs over 3000 professionals with countrywide infrastructure and international subsidiaries across the globe. Forbes Global ranked Rolta for three years in a row, amongst the world's 200 Best Companies (sales up to US $ 1 Billion). The company is listed on the NSE and BSE in India, with its GDRs listed on the London Stock Exchange.