Advanta India IPO: price fixed at Rs 640/share

MUMBAI, April 3, 2007: Advanta India Limited (the "Company"), an international agronomic seed company with principal operations in India, Australia, Thailand and Argentina, and a subsidiary of United Phosphorus Limited, has fixed the Issue Price for its initial public offering of 3,380,000 Equity Shares of Rs 10 for cash at a premium that was decided through the 100% Book-Building Process at Rs 640 per equity share (the "Issue"). The Price Band for the Issue was fixed between Rs 600 and Rs 650 per equity share.

The subscription to the Issue closed on March 30, 2007, and the Issue was subscribed 3.98 times. The Issue received good response from Qualified Institutional Buyers ("QIB") and the QIB portion was subscribed 6.47 times withover 1.31 crore shares bid against reserve portion of 20.28 lakh shares.

The shares are proposed to be listed on the National Stock Exchange and the Bombay Stock Exchange Limited.

Headquartered in Bangalore, Advanta India Limited is a subsidiary of United Phosphorus Ltd., one of the leading generic agrochemical companies in the world with operations in the United States, Australia, China, Latin America and Europe. The Company, including its operating subsidiaries, is engaged in the research, production and sales of a range of hybrid seeds for cereals and oilseed crops. It is a global leader in technical plant breeding and in the application of biotechnology to develop new hybrids and varieties of field crops and broad acre vegetable seed products.

The Book Running Lead Managers to the Issue are YES Bank Limited, UBS Securities India Private Limited and SSKI Corporate Finance Private Limited.