Joint Venture Partnership in Dialog Business Services (Pvt) Ltd

CORPORATE DISCLOSURE – JOINT VENTURE PARTNERSHIP IN DIALOG BUSINESS SERVICES (PVT) LTD

We write further to our disclosures dated 28 January and 8 March 2011, pertaining to Dialog Business Services (Pvt) Ltd (DBS), a fully owned subsidiary of Dialog Axiata PLC. We write to apprise the CSE that Dialog Axiata PLC has entered in to a Joint Venture with Firstsource Solutions Ltd., a leading Global BPO services provider head quartered in Mumbai India, with respect to the growth and expansion of the operations of DBS.

In terms of the Joint Venture arrangement, Firstsource Solutions and Dialog Axiata will hold 74% and 26% stake respectively in DBS. Going forward DBS will be known as Firstsource-Dialog Solutions.

We have attached herewith a copy of the media release which will be disseminated in parallel with this notification.

Attached : Media release.