Outcome of decisions taken by Board of Directors

February 8, 2010

The London Stock Exchange

10 Paternoster Square London EC4M 7LS

Dear Sir

Sub: Outcome of decisions taken by Board of Directors

Please be informed that the Board of Directors of the Company has today approved the following:

·; the issue of upto 6 million equity shares of the Company to the Promoter/Promoter Group for a price of Rs. 80/- per equity share, being higher than the minimum price computed in accordance with Chapter VII of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009

·; pursuant to the provisions of Sections 78, 100 to 104 and other applicable provisions, if any, of the Companies Act, 1956, reduction of securities premium account as a part of financial restructuring by court order through utilisation of the same for certain permitted purposes to be approved by the Court,

·; convening of an Extraordinary General Meeting of the members of the Company on March 4, 2010 at 3 P M at the registered office of the Company to approve the aforesaid matters.

We request you to take the aforesaid intimation on record.

Thanking you

Yours truly,

For Subex Limited

Raj Kumar

Chief Counsel & Company Secretary