Intimation on Redemption of FCCBs

March 7, 2017

To

The London Stock Exchange

10 Paternoster Square

London

EC4M 7LS

Dear Sirs,

Sub: Subex Limited "The Company" -Intimation on Redemption of Foreign Currency Convertible Bonds "FCCB's"

Please be informed that the following FCCB's have been redeemed on March 06, 2017.

· Outstanding US$ 1,000,000 out of US$ 180,000,000 2% Coupon Convertible Bonds due March 9, 2017 "FCCB I" listed on the London Stock Exchange.

· Outstanding US$ 1,400,000 out of US$ 98,700,000 5% Convertible Unsecured Bonds due March 9, 2017 "FCCB II" listed on the Singapore Exchange Securities Trading Limited.

We request you to take the aforesaid notification on record.

Yours faithfully

For and on behalf of Subex Limited

Ganesh K V

Chief Financial Officer, Global Head -Legal and Company Secretary