Redemption of FCCB III

July 10, 2017

To

The London Stock Exchange

10 Paternoster Square

London

EC4M 7LS

Dear Sir/Madam,

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:

· Outstanding US$ 3,600,000 out of US$ 127,721,000 5.70% Secured Convertible Bonds due July 7, 2017 "FCCB III" listed on the Singapore Exchange Securities Trading Limited.

We request you to take the aforesaid intimation on record.

Thanking you

Yours truly,

For Subex Limited

Arjun Makhecha

Acting Company Secretary