The Reserve Bank of India has today notified that the aggregate share holdings in Network 18 Media & Investments Ltd. (formerly Network 18 Fincap Ltd.) by Foreign Institutional Investors (FIIs)/ Non Resident Indians (NRIs)/Persons of Indian Origin (PIOs) under Portfolio Investment Scheme (PIS) have gone below the caution limit of its paid up capital. Therefore, the restrictions placed on the purchase of shares of the above company may be treated as withdrawn with immediate effect. It will, therefore, now be in order to purchase the shares of the above company in the secondary market on behalf of FII and NRI/PIO clients who have obtained permission to invest under the Portfolio Investment Scheme subject to the existing ceilings and guidelines in this regard.

Ajit Prasad
Manager

Press Release : 2008-2009/2095