Leo Puri joins Warburg Pincus

Mumbai, India, -- March 22, 2007 "� Warburg Pincus, the global private equity firm, today announced that Leo Puri will join the firm as a Managing Director on April 10, 2007. He will initially be based in the firm's New York office and in due course would be deputed to firm's Mumbai office. He will be working actively to help expand the firm's business in India. He will also assist in building the firm's financial services investment activities in selected markets in Asia.

Announcing the appointment, Charles R, Kaye, Co-President of Warburg Pincus, said: "We are delighted to welcome Leo to our team. India is a high priority market for our firm and his deep expertise in financial services and broad India experience will be of great value to our firm."

Rajesh Khanna, head of Warburg Pincus India, added: "We have a long investment history in India and a strong track record and we are pleased to attract talent of this caliber."

Prior to joining Warburg Pincus, Mr. Puri was a Director of McKinsey & Company in India, where he was a co-leader of the financial services practice in Asia. At McKinsey he advised leading banks, insurance and asset management companies and financial regulators, working on a variety of business strategy and organizational issues in Europe, the U.S. and more recently Southeast Asia, India and the Middle East. His clients also included a range of leading Indian corporations, across a variety of sectors in which he specialized in matters relating to growth and restructuring.

Mr. Puri holds an M.A. in Politics, Philosophy and Economics from Oxford University and obtained an M.A. in Law with first class honors from Cambridge University.

About Warburg Pincus Warburg Pincus has been a leading private equity investor since 1971. The firm currently has approximately $15 billion of assets under management for investment in a range of sectors including energy, consumer and retail, industrial, business services, healthcare, financial services, real estate and technology, media and telecommunications.

Since the firm's entry into India, more than a decade ago, the firm has invested more than $1.4 billion in companies such as Kotak Mahindra Bank, Max India, Bharti, Nicholas Piramal India, Sintex, Writers and Publishers Ltd. and WNS Global Services. An experienced partner to entrepreneurs seeking to create and build durable companies with sustainable value, the firm has offices in Beijing, Frankfurt, Hong Kong, London, Menlo Park, Mumbai, New York, Shanghai and Tokyo. For more information, please visit www.warburgpincus.com.