NEW DELHI, India - Bharti Enterprises and Wal-Mart Stores, Inc. announced today that they have signed a Memorandum of Understanding under which they will jointly explore business opportunities in India. This will allow the two companies to study and evaluate the retail market in India and identify business opportunities together within the existing guidelines.Bharti, with its deep knowledge of India's fast growing consumer market and Wal-Mart, with its extensive global retail experience, share the same commitment to building relationships with producers in order to provide great quality at reasonable prices to consumers everyday.About Bharti EnterprisesBharti Enterprises is one of India's leading business groups with interests in telecom, agri business and insurance. Bharti has been a pioneering force in the telecom sector with many firsts and innovations to its credit. Bharti Airtel Limited, a group company, is one of India's leading private sector providers of telecommunications services with an aggregate of 30.27 million customers (as of end of October'06) spanning mobile, fixed line, broadband and enterprise services.Bharti Airtel was recently ranked amongst the top 10 best performing companies in the world in the BusinessWeek IT 100 list. Bharti is the country's largest manufacturer and exporter of telephone terminals. Bharti has a joint venture with ELRo Holdings India Ltd. "� 'FieldFresh Foods Pvt. Ltd' - for global distribution of fresh fruits and vegetables. Bharti also has a joint venture - 'Bharti AXA Life Insurance Company Ltd.' - with global insurance major AXA.About Wal-Mart Stores, Inc.Wal-Mart Stores, Inc. operates Wal-Mart discount stores, supercenters, Neighborhood Markets and Sam's Club locations in the United States. The Company operates in Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico and the United Kingdom. The Company's securities are listed on the New York Stock Exchange and NYSE Arca, formerly the Pacific Stock Exchange, under the symbol WMT.
