Airtel

Introduction Telecom giant Bharti Airtel is the flagship company of Bharti Enterprises. The Bharti Group, has a diverse business portfolio and has created global brands in the telecommunication sector. Bharti has recently forayed into retail business as Bharti Retail Pvt. Ltd. under a MoU with Wal-Mart for the cash & carry business. It has successfully launched an international venture with EL Rothschild Group to export fresh agri products exclusively to markets in Europe and USA and has launched Bharti AXA Life Insurance Company Ltd under a joint venture with AXA, world leader in financial protection and wealth management. Airtel comes to you from Bharti Airtel Limited, India’s largest integrated and the first private telecom services provider with a footprint in all the 23 telecom circles. Bharti Airtel since its inception has been at the forefront of technology and has steered the course of the telecom sector in the country with its world class products and services. The businesses at Bharti Airtel have been structured into three individual strategic business units (SBU’s) - Mobile Services, Airtel Telemedia Services & Enterprise Services. The mobile business provides mobile & fixed wireless services using GSM technology across 23 telecom circles while the Airtel Telemedia Services business offers broadband & telephone services in 94 cities. The Enterprise services provide end-to-end telecom solutions to corporate customers and national & international long distance services to carriers. All these services are provided under the Airtel brand.

Business Divisions Mobile : Bharti Airtel offers GSM mobile services in all the 23-telecom circles of India and is the largest mobile service provider in the country, based on the number of customers. Internet: The group offers high speed broadband internet with a best in class network. With Landline services in 94 cities we help you stay in touch with your friends & family and the world.

Data connectivity : The group focuses on delivering telecommunications services as an integrated offering including mobile, broadband & telephone, national and international long distance and data connectivity services to corporate, small and medium scale enterprises. Fibre cables : The Company compliments its mobile and broadband & telephone services with national and international long distance services. It has over 35,016 route kilometers of optic fibre on its national long distance network. For international connectivity to east, it has a submarine cable landing station at. For international connectivity to the west, the Company is a member of the South East Asia-Middle EastWestern Europe – 4 (SEA-ME-WE-4) consortium along with 15 other global telecom operators. Mobile Prepaid : Enter the world of limitless possibilities with Airtel Prepaid. The service that helps you give, words to every feeling, an expression to every emotion. Postpaid : Life becomes much simpler with your Airtel Postpaid. It gives you the unlimited freedom to reach out to people in your special way. Black berry : the world’s most powerful instant e-mail mobile 1. Send emails and Receive emails instantly

All the emails you've read, deleted or moved to a folder will show on both your handset device and your desktop. It uses over-the air technology so there's no need to manually synchronise your message activity. You can see more of each individual email - with up to 32kb downloaded in one go. You can also create personal email 'distribution lists' and send emails to a predefined group of contacts. 2. Read email attachments With the BlackBerry's own Integrated Attachment Solution in the BES software you can read attachments in the following file types: Word, Excel, Powerpoint, WordPerfect and PDF.

Broadband services

Speed On Demand With our innovative service, you can enjoy a dedicated speed of up to 2 Mbps without having to change your subscription plan.What’s more, you only pay for what you use.

HP Campaign Free broadband for 14 months with any Compaq notebook or desktop. Make an exciting world come alive with Airtel Broadband.

Airtel PC Secure One of the best in PC security, to provide you and your family with our great value online security package.

Entertainment on Airtel

Choose your style. Now even for your homepage.

Unlimited games on demand @ Rs.99 per month Experience Wizkid on Airtel.

Just log-in with your Airtel Broadband ID and

unleash great music at great prices!

Airtel brings you a wide range of high-quality and exciting games in alliance with indiagames. Just login with your Airtel Broadband ID and start playing.

Services Broadband and internet services Airtel brings you a host of exciting features ranging from facilities like Online tests, In touch and Video Surveillance Solutions to trouble shooting devices like, Net Expert and Web Jockey.

Control your business, 24x7. Observe your office, warehouse, shop and staff from your PC, from anywhere and all the time

Create and share your precious moments with your loved ones with In Touch. It’s a great way to reach out to your loved ones who are far away.

Introducing NetXpert, India’s first ever automated Broadband care technology which provides immediate solutions for Internet connectivity related problems.

Airtel Broadband Services and TCY Online offer you online competitive tests for GRE, GMAT, SAT and MBA, from the comfort of your home

Wifi is a wireless technology brand by the Wifi Alliance that gives you a host of fantastic advantages ranging from reliability to security.

Calling cards Our calling card services connect you to your friends and friends in India a cost effective and reliable manner. Choose from the options below and stay connected. Calling Cards include

Great savings on calling anywhere in India or across the world. Even if your phone is not STD/ISD enabled, go ahead and talk to your loved ones.

Now call back India from USA at lowest cost of just 6c / min .

Traveling abroad? Save precious foreign exchange and up to 94% over international roaming charges.

Home Phones Home Phones include

Airtel welcomes you to its world of telephony services, which offers you world class services with its cutting edge technology.

Avail of the convenience of a mobile phone on a fixed line, without any cables disturbing the ambience of your living room!

What's New? Win big with Airtel! All you have to do is, participate in awesome contests & promos, created especially for you and win loads of super prizes! Also Check out this space for more exciting stuff! You can also avail of many offers for your Broadband.

Wireless Internet With Airtel’s Wireless Internet, you have the freedom to access the Internet anytime, anywhere across India. It enables Internet, Email, and Office applications with real-time secure VPN access to corporate applications whilst on the move Wireless Internet include

Airtel Data Card is the superior PC Data Card solution which delivers wireless internet capabilities to laptops and notebooks, by providing EDGE and GPRS technologies in a single PC Card package.

Now get an instant access to internet and your corporate applications with our USB Modem. Become truly mobile with this efficient cost saving device.

Awards and Recognitions 2008-2009  August 7, 2008: Bharti Airtel adjudged the 'Best Cellular Service Provider' and 'Best Broadband Service Provider' at the 2008 V&D 100 Awards.  July 11, 2008: Bharti Airtel Limited voted as India 's most innovative company , in a survey conducted by The Wall Street Journal . Bharti Airtel was ranked as the most innovative in responding to customer needs in a survey conducted to determine Asia 's 200 most-admired companies.  June 13, 2008: Sunil Bharti Mittal received U.S.-India Business Council's 'Global Vision' Award . The prestigious award recognizes his entrepreneurial zeal and contribution to Indian business.  June 11, 2008: Airtel voted the 2nd Most Trusted Service Brand in the Annual Economic Times-Brand Equity, Most Trusted Brands survey  June 2008: Airtel wins the Platinum Trusted Brand Award in the Mobile Service provider category in the Reader's Digest Asia Trusted Brands Survey .  May 26, 2008: Airtel was honoured with the prestigious 'Wireless Service Provider of the Year' award at the 2008 Frost & Sullivan Asia Pacific ICT Awards.  April 17, 2008: Bharti Airtel had the distinction of being amongst 20 companies worldwide and the only one in India , to be honoured with the 'Gallup Great Workplace Award'.  April 8, 2008: Airtel adjudged as the 'Best Carrier India' at the Telecom Asia Award 2008 . The Telecom Asia Awards, constituted by the Telecom Asia magazine, seek to recognize outstanding performances of companies and individuals in the Asian telecommunication industry based on criteria such as financials, market standing, technology and corporate governance.

2007-2008  Bharti Airtel has won the CNBC-TV18 India Business Leader Award for the Outstanding Company of the year, 2007  Bharti draws top honours at the NDTV Profit Business Leadership Awards 2007  Bharti Airtel Ranked 3rd on Shareholder Returns in BusinessWeek IT 100 List  Sunil Bharti Mittal conferred Degree of Doctor of Science (Honoris Causa) by G. B. Pant University 2006-2007  Bharti draws top honours at the NDTV Profit Business Leadership Awards 2007  Bharti Airtel awarded the prestigious QCI-DL Shah Award on Economics of Quality  Sunil B. Mittal chosen for this year’s Padma Bhushan Awards  Bharti Airtel is once again chosen for India’s most Customer Responsive Telecom Company Award  Triple success for Akhil Gupta at CFO Awards for India  Bharti Airtel is amongst India’s Most Admired Knowledge Enterprises in 2006  Sunil Bharti Mittal receives ‘The Honorary Fellowship’ fromIETE  Bharti Airtel draws Top Honors at the MIS Asia IT Excellence Awards 2006  Bharti Airtel among the top 10 best performing companies in the world according to Business Week IT 100 list  Sunil Bharti Mittal is CEO of the Year at the Frost & Sullivan Asia Pacific ICTAwards 2006 & Bharti Airtel bags Wireless Service Provider of the Year andCompetitive Service Provider of the Year 2005-2006  Airtel chosen as Most Preferred Mobile Service by CNBC Awaaz Consumer Awards

 Business Week features Bharti Tele-Ventures amongst the top technology companies in the world.  Bharti Tele-Ventures amongst top three companies in the latest ET top 500 companies ranking.  Bharti Tele-Ventures is the "Indian Mobile Operator of the Year 2005”  Sunil Bharti Mittal Chairman and Managing Director Bharti Enterprises gets The Best Asian Telecom CEO award Bharti Tele-Ventures is Asias Best GSM Carrier 2004-2005  Bharti has been adjudged as Indias second best employer by Hewitt Associates.  Business Week features Bharti Tele-Ventures amongst the top technology companies in the world  Bharti Tele-Ventures is the "Indian Mobile Operator of the Year 2005”  Bharti Tele-Ventures amongst top three companies in the latest ET top 500 companies ranking.  Sunil Bharti Mittal Chairman & Managing Director Bharti Enterprises gets The Best Asian Telecom CEO award. Bharti Tele-Ventures is Asias Best GSM Carrier 2003-2004  Bharti has been adjudged as Indias second best employer by Hewitt Associates  Business Week features Bharti Tele-Ventures amongst the top technology companies in the world  Bharti Tele-Ventures amongst top three companies in the latest ET top 500 companies ranking.  Bharti Tele-Ventures is the "Indian Mobile Operator of the Year 2005”  Sunil Bharti Mittal Chairman & Managing Director Bharti Enterprises gets The Best Asian Telecom CEO award. Bharti Tele-Ventures is Asias Best GSM Carrier 2002-2003

 Bharti has been adjudged as Indias second best employer by Hewitt Associates  Business Week features Bharti Tele-Ventures amongst the top technology companies in the world  Bharti Tele-Ventures amongst top three companies in the latest ET top 500 companies ranking.  Bharti Tele-Ventures is the "Indian Mobile Operator of the Year 2005”  Sunil Bharti Mittal Chairman & Managing Director Bharti Enterprises gets TheBest Asian Telecom CEO award. Bharti Tele-Ventures is Asias Best GSM Carrier 2001-2002  Bharti has been adjudged as Indias second best employer by Hewitt Associates  Business Week features Bharti Tele-Ventures amongst the top technology companies in the world  Bharti Tele-Ventures amongst top three companies in the latest ET top 500 companies ranking.  Bharti Tele-Ventures is the "Indian Mobile Operator of the Year 2005”  Sunil Bharti Mittal Chairman & Managing Director Bharti Enterprises gets TheBest Asian Telecom CEO award. Bharti Tele-Ventures is Asias Best GSM Carrier

History Bharti Airtel is one of India's leading private sector providers of telecommunications services based on an aggregate of 71,777,448 customers as on June 30, 2008, consisting of 69,383,716 GSM mobile and 2,393,732 Bharti Telemedia subscribers. The businesses at Bharti Airtel have been structured into three individual strategic business units (SBU’s) - mobile services, telemedia services (ATS) & enterprise services. The mobile services group provides GSM mobile services across India in 23 telecom circles, while the ATS business group provides broadband & telephone services in 94 cities. The enterprise services group has two sub-units - carriers (long distance services) and services to corporates. All these services are provided under the Airtel brand. Company shares are listed on The Stock Exchange, Mumbai (BSE) and The National Stock Exchange of India Limited (NSE).

Partners The company has a strategic alliance with SingTel. The investment made by SingTel is one of the largest investments made in the world outside Singapore, in the company. The company’s mobile network equipment partners include Ericsson and Nokia. In the case of the broadband and telephone services and enterprise services (carriers), equipment suppliers include Siemens, Nortel, Corning, among others. The Company also has an information technology alliance with IBM for its group-wide information technology requirements and with Nortel for call center technology requirements. The call center operations for the mobile services have been outsourced to IBM Daksh, Hinduja TMT, Teletech & Mphasis.

The company's unique strategic outsourcing model has been studied and documented by Harvard Business School as a case study which is available for download at:http://www.hbsp.harvard.edu/.  Factsheet At-a-glance guide to Bharti Airtel  Organization Structure Organisation chart depicting the Senior Management positions  Shareholding Structure Details on the latest shareholding structure and major shareholders, as on June 30, 2008  Awards & Recognitions Laurels recognising Bharti's consistent efforts.

Corporate Governance Bharti Airtel Limited firmly believes in the principles of Corporate Governance and is committed to conduct its business in a manner, which will ensure sustainable, capitalefficient and long-term growth thereby maximising value for its shareholders, customers, employees and society at large. Company’s policies are in line with Corporate Governance guidelines prescribed under Listing Agreement/s with Stock Exchanges and the Company ensures that various disclosures requirements are complied in ‘letter and spirit’ for effective Corporate Governance. During the financial year 2003-04, your Company was assigned highest Governance and Value Creation (GVC) rating viz. ‘Level 1’ rating by CRISIL, which indicates that the company’s capability with respect to creating wealth for all its stakeholders is the highest, while adopting sound Corporate Governance practices.This rating was re-affirmed by CRISIL on April 20,2006. •

Board of Directors

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Audit Committee

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Human Resource (HR)/ Remuneration Committee

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ESOP Compensation Committee

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Investor Grievance Committee

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Memorandum of Association

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Article of Association

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Code Of Conduct

Fact sheet Name

Bharti Airtel Limited.

Business Description

Provides mobile, telemedia services (fixed line) and enterprise services (carriers & services to

corporates) Established

July 07, 1995, as a Public Limited Company

Proportionate Revenue

Rs. 270,122 million (year ended March 31, 2008-Audited) Rs. 184,202 million (year ended March 31, 2007-

Audited)

As per Indian GAAP Accounts

Proportionate EBITDA

Rs. 114,018 million (year ended March 31, 2008 - Audited) Rs. 74,407 million (year ended March 31, 2007 - Audited) As per Indian GAAP Accounts

Shares in Issue

1,898,020,804 as at June 30, 2008

Listings

The Stock Exchange, Mumbai (BSE) The National Stock Exchange of India Limited (NSE)

Market Capitalisation

Market Capitalisation (as on September 18, 2008) Approx. Rs. 1,443 billion Closing BSE share price = Rs.

760.35 Customer Base

69,383,716 GSM mobile and 2,393,732 telemedia customers (Status as at month ended June 30, 2008)

Operational Network

Provides GSM mobile services in all the 23 telecom circles in India, and was the first private operator to have

an all

India presence. Provides telemedia services (fixed

line) in Registered Office

94 cities in India. Bharti Airtel Limited

Headlines (FY 2008-09)  Airtel and RIM Unveil the New BlackBerry Bold in India September 18, 2008  Bharti Airtel to Observe Silent period from September 30, 2008, September 16, 2008  The World’s Richest & Most Prestigious Half Marathon is now the Airtel Delhi Half Marathon; in excess of 30,000 people will run together on November 9, 2008, September 11, 2008  Bharti Airtel takes a Pioneering step to promote Innovation and help Budding Entrepreneurs , September 11, 2008  Bharti Foundation contributes over Rs 3 crores for relief operations in flood affected Bihar and Assam, September 10, 2008  Bharti Airtel Introduces New Payment Options to Purchase iPhone 3G, September 7, 2008  Airtel and HP collaborate to promote Broadband and PC Penetration, September 4, 2008  Airtel launches services in the UK to connect NRIs to India, August 17, 2008  Bharti Airtel to Bring iPhone 3G to India on August 22, August 6, 2008  Bharti announces strategic restructuring at the apex corporate group level, August 5, 2008  Bharti Airtel announces results for the first quarter ended June 30, 2008, July 24, 2008

 Network restored in Mumbai, There was a major fire at Peninsula Chambers, Lower Parel, Mumbai which houses several companies. Saturday, 19th of July 2008  Bharti Airtel Limited to announce results for the first quarter ended June 30, 2008, on July 24, 2008 (Thursday) , Monday,14th of July 2008  Bharti Airtel and Pacnet join forces to deliver enhanced connectivity to and from India, Wednesday, 18th of June 2008

Life at Airtel It & apposes amazing what you can do here. Bhavna speaks...."I guess I joined telecom, I was at the right place at the right time....". "... Being a lady I was stepping into a very unknown state... a state I had never been to before, there were many challenges to be faced, a huge task to be completed and a very stiff target to be achieved.... I am not just to meet targets I normally like to exceed all expectations. .. ". We are proud of our ability to nurture individuals and provide them the space and empowerment they need to hone their talents. Our size gives us the unique ability to provide fast growth and high responsibility early in one's career as well as multiple avenues to reach the top. If you want to explore the exciting opportunities , you have found the perfect place to start. Our vision is to be the most admired brand in India by 2010. •

Loved by more customers.

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Targeting top talent.

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Benchmarked by more businesses

Imagine having the resources to influence tomorrow's reality - today. At Airtel we are seeking people whose ideas can make a difference, individuals who thrive on the opportunity to think creatively and be empowered to deliver. Please fill in the application

form with the job code that interests you and we will get in touch with you if your skill set and experience matches our requirement. For more information on job search visit careers section on our site . Some employee benefits In line with our commitment towards the continued development of our employees and to provide the necessary impetus towards achieving the organization's 2010 vision of being the most admired brand in the country and a company which is targeted by top talent . The following are some of the initiatives that we offer to our employees Continuing Education Policy(CEP) Higher education to employees desirous of pursuing further education while being in the employment of Bharti Airtel Flexible Time Policy to provide an opportunity for employees to contribute more.

Personnel Board of directors Sunil Bharti Mittal

Chairman and Managing Director

Rajan Bharti Mittal

Director

Akhil Gupta

Joint Managing Director

Rakesh Bharti Mittal

Director

Chua Sock Koong

Director

Pulak Chandan Prasad

Director

Bashir Abdulla Currimjee

Director

Mauro Sentinelli

Director

Professor V.S Raju

Director

O’Sullivan

Director

Kurt Hellstrom

Director

N. Kumar

Director

Ajay Lal

Director

Francis Heng

Director

Arun Bharat Ram

Director

Partners Network Equipment Mobile Services Nokia Ericsson

Telemedia Services Siemens Corning Nortel

Information Technology IBM

Call Centre Operations

IBM Daksh Hinduja TMT Teletech & Mphasis

Equity Partner {Strategic} Singtel

Organization Structure As an outcome of a restructuring exercise conducted within the company; a new integrated organizational structure has emerged; with realigned roles, responsibilities and reporting relationships of Bharti’s key team players. With effect from March 01, 2006, this unified management structure of 'One Airtel' will enable continued improvement in the delivery of the Group’s strategic vision.

Investor Relations Creating value for our customers, employees, investors, partners, vendors and the society at large lies at the root of our fundamental business strategy. Our core principles of trust and transparency have come a long way in helping us develop and nurture long-term relationships with our key stakeholders. Our performance exudes from our belief in and commitment to the telecom sector; and translates into creating innovative exciting opportunities for one and all.

Highlights  Bharti Airtel to Observe Silent period from September 30, 2008  Airtel and RIM Unveil the New BlackBerry Bold in India  The World’s Richest & Most Prestigious Half Marathon is now the Airtel Delhi Half Marathon; in excess of 30,000 people will run together on November 9, 2008  Bharti Airtel takes a Pioneering step to promote Innovation and help Budding Entrepreneurs  Bharti Foundation contributes over Rs 3 crores for relief operations in flood affected Bihar and Assam  Bharti Airtel Introduces New Payment Options to Purchase iPhone 3G

Share Price Share price data is delayed by approximately 15 minutes on BSE 1 and 5 minutes on NSE2. BSE1 Currency : Rupees Price Bid Offer Change On Day Percentage Change Last Trade Daily Volume NSE2

Code : 532454 799.10 805.00 815.00 38.75 5.10% 19-09-2008 4:02PM 3,338,971

Day High Day Low 52 Week High 52 Week Low

View Chart 816.10 779.60 1,149.00 688.00

Opening Price

779.60

Prev. Closing

760.35

Currency : Rupees Price Bid Offer Change On Day Percentage Change Last Trade Daily Volume

Code :BhartiAirtel 805.85 Day High 805.85 Day Low 0.00 52 Week High 44.60 52 Week Low 5.86% 19-09-2008 Opening Price 3:58PM 12,936,039 Prev. Closing

View Chart 819.70 776.65 1,184.20 672.55 795.00 761.25

All price data is in INR.

Market shares The equity shares of Bharti Airtel are currently listed on National Stock Exchange of India Limited (NSE) and The Stock Exchange, Mumbai, (BSE). Bharti Airtel offered 185,336,700 equity shares in the initial public offering (IPO) and raised Rs 8,340.15 million through this process. The shares were over subscribed 2.56 times. With this IPO, Bharti Airtel established certain important landmarks in the history of the Indian capital market. Together with being the first 100% book building process that this country has seen, the listing was completed within a record time of ten working days. of the close of the issue. Moreover the process of allotment and issue of shares was also completed within one day of the last day of pay-in. The book running lead managers for the IPO were JM Morgan Stanley and DSP Merrill Lynch and the registrars to the issue was Karvy Consultants Limited. The equity shares of Bharti Airtel are currently listed on National Stock Exchange of India Limited (NSE) and the Stock Exchange, Mumbai (BSE).

Future plans •

By 2010 Airtel will be the most admired brand in India:

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Loved by more customers

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Targeted by top talent

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Benchmarked by more business.

Areas of Operations Delhi Our Delhi network covers a license area that includes the state of Delhi and the neighbouring towns of Faridabad and Gurgaon in the state of Haryana, and Ghaziabad and Noida in the state of Uttar Pradesh. We have a 20-year license to provide cellular services in our Delhi circle, valid until November 2014, and which is extendible by additional periods of 10 years. In addition to being India’s political capital, Delhi has the highest per capita income, the highest installed fixed-line penetration rate, and the highest population density among the 29 states of India. Delhi has a high concentration of service and manufacturing industries and houses the Central Government, the head offices for many major public sector enterprises, embassies and various government missions and development agencies. We believe that these factors create high roaming revenue potential from cellular subscribers who roam into our network from other circles. As of November 30, 2001, we had 465,278 customers in Delhi, giving us a market share of approximately 56% in this circle.

Karnataka and Andhra Pradesh

Located in southern India, Karnataka is a major business centre and several information technology companies are based in and around its capital, Bangalore. Andhra Pradesh is adjacent to Karnataka and several information technology companies are based in and around its capital, Hyderabad. Information technology companies are typically highvolume users of telecommunications services, particularly for data transmission. We offer cellular services in these circles pursuant to 20-year license, valid until 2016 for Karnataka and until 2015 for Andhra Pradesh, each of which is extendible by additional periods of 10 years. As of November 30, 2001, we had 177,810 and 195,054 customers in Karnataka and Andhra Pradesh, respectively, giving us a market share of approximately 57% and 48%, respectively, in these circles.

Chennai We provide cellular services in Chennai (the capital city of the southern state of Tamil Nadu) and in the adjoining areas of Mahabalipuram, Minjur and Maraimalai Nagar. Chennai is a major centre for information technology companies and foreign multinational corporations. Our network is operated pursuant to a 20-year license, valid until November 2014, and which is extendible by additional periods of 10 years. As of November 30, 2001, we had 110,032 customers in Chennai, giving us a market share of approximately 51% in this circle.

Himachal Pradesh Located in northern India, Himachal Pradesh is one of India’s most mountainous states and is a popular tourist destination, particularly for residents of Delhi and other north Indian states. Our network is operated pursuant to a 20-year license, valid until November 2015, and which is extendible by additional periods of 10 years. As of November 30, 2001, we had 12,462 customers in Himachal Pradesh, giving us a market share of approximately 64% in this circle.

Kolkata Kolkata is the capital city for the eastern state of West Bengal. Several domestic and multinational companies are based in Kolkata and it is a major centre for trade and commerce in eastern India. Our network is operated pursuant to a 20-year license, valid until November 2014, and which is extendible by additional periods of 10 years. As of November 30, 2001, we had 87,570 customers in Kolkata, giving us a market share of approximately 41% in this circle. We have grown as a result of both organic growth and acquisitions of circles completed by us. The following table sets forth the growth in the number of our cellular customers over the last three years.

Proposed Areas of Operations In September 2001, we entered into license agreements with the DOT to provide cellular services in the eight circles of Mumbai, Maharashtra, Gujarat, Madhya Pradesh, Haryana, Uttar Pradesh (West), Tamil Nadu and Kerala. All these licenses are for a period of 20 years, valid until August 2021, and are extendible by additional period of 10 years. In September 2001, the DoT also restored the Punjab license in our favour. The Punjab license is for a period of 20 years, valid until 2015, and is extendible by additional periods of 10 years. We expect to commence providing cellular services in these nine proposed circles by the middle of this year.

Mumbai Mumbai is the financial and commercial capital of India and one of the largest cities in the world in terms of population. Mumbai is among the highest per capita income cities in India. Several leading financial institutions, regulatory agencies, multinational corporations, service organisations and leading conglomerates are located in Mumbai.

The concentration of commercial activity and service industry in Mumbai has led to a strong demand for telecommunications services, both voice and data. Maharashtra. Surrounded by Gujarat, Madhya Pradesh, Andhra Pradesh and Karnataka, Maharashtra is a prominent state in Western India. Maharashtra is one of the most industrialised states in India and several industries including sugar, pharmaceuticals, petrochemicals, heavy chemicals, electronics, automobiles, engineering, food processing and plastics are located in the state. Maharashtra has attracted high amount of investment from Indian and foreign companies in the past. Among states, Maharashtra has among the higher literacy rates and is a centre for learning and research in India.

Gujarat Gujarat is located adjacent to Maharashtra and is also a prominent industrialised state in the country. Several companies in the chemicals and petrochemicals, pharmaceuticals and textiles sectors are based in Gujarat and the largest grass-root level petroleum refinery in India is located in the state. Gujarat also has one of the busiest ports in India and handled a high proportion of India’s exports for the year ended March 31, 2001.

Haryana Haryana is adjacent to Delhi and is surrounded by the states of Himachal Pradesh, Uttar Pradesh, Rajasthan and Punjab. The city of Chandigarh, which is a union territory, is a joint capital city of the states of Haryana and Punjab. Haryana is also an emerging centre in north India for IT enabled services such as call centres, which are typically highvolume users of telecommunications services.

Punjab

Punjab is among the highest per capita income states in India. Punjab has emerged as a leading producer of agricultural products in India and several multinational corporations have invested in Punjab in agricultural-related businesses. Punjab is also emerging as a base for the production of engineering goods, pharmaceuticals, leather goods, food products, textiles, electronic goods, sugar, machine tools, hand tools, agricultural implements, sports goods, paper and paper packaging materials.

Uttar Pradesh (West) Uttar Pradesh (West) is a circle carved out of the north Indian state of Uttar Pradesh by the DoT and has been classified as a Category B cellular license area. It is a popular tourist location in northern India with several holy shrines and pilgrimage locations.

The state is home to several industries Madhya Pradesh Located in central India, Madhya Pradesh has a total area of approximately 443,000 square kilometers and has substantial mineral resources, making it a centre for the aluminum, chemical and iron and steel industries. Several industries in the electronics, telecommunications, petro-chemicals, food processing and automobiles sectors are also located in Madhya Pradesh.

Kerala Located in south India, Kerala is rich in minerals, marine products and agricultural products. A large section of the former population of Kerala lives outside India as nonresident Indians and has contributed to a relatively high foreign exchange inflow in this state. The state has the highest density of science and technology personnel and the highest literacy rate in India.

Tamil Nadu Located in southern India, Tamil Nadu is surrounded by Andhra Pradesh, Karnataka and Kerala. Tamil Nadu has several industrial undertakings engaged in cotton, sugar, leather, textiles, engineering and petrochemicals sector. The state has a large number of professionals and has witnessed a rapid growth in the software industry in the past few years. In addition to entering into licenses with the DOT for our eight additional circles and the restoration of our Punjab license, we have taken the following steps towards commencing operations in these circles and the integration of the proposed circles with our existing circles: completed network planning activities and implementing the same entered into rate contracts and, for some circles, placed purchase orders with vendors, including Siemens, Motorola and Ericsson, for the supply of telecommunications equipment and network design commenced recruitment activities and internal transfer of employees for new areas of operations entered into agreements with the Escorts group, a provider of cellular services in the Haryana, Kerala, Uttar Pradesh (West), Himachal Pradesh and Punjab circles, to share cellular infrastructure in order to reduce costs and speed the launch date for our services identified, and in some cases acquired, locations for the main switching centres and cell sites. selected a common billing system, customer relationship and enterprise resource planning packages and other office systems and controls for our existing and proposed cellular networks. We have also reorganised the management structure of our cellular business on a regional basis in an effort to better capture revenue and cost synergies. We have appointed chief executive officers and chief operating officers and other key functional heads in each of the circles.

Suggestions •

As a result of competition and our entry into proposed markets, we may have to:

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Reduce prices.

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Increase capital expenditures in order to offer competing or superior value added services.

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Increase advertising and distribution expenditures.

COMPITITORS

Delhi Hutchison MTNL BPL Birla Tata AT&T

Chennai RPG Cellular Hutchison Kolkata

Hutchison Reliance Telecom

Andhra Pradesh BPL Birla Tata AT&T Hutchison Karnataka Spice Telecom Hutchison

Himachal Pradesh Reliance Telecom Escotel

Objective As set out in the Memorandum of Association of Bharti Tele-Ventures, our main objects are as follows: 1. To promote and establish companies, funds, associations or partnerships for providing telecom networks and/or to run and maintain telecom services like basic/fixed-line services, cellular/mobile services, paging, videotext, voice mail and data systems, private switching network services, transmission network of all types; computer networks i.e. local area network, wide area network, electronic mail, intelligent network, multimedia communication systems or the combinations thereof and for execution of undertakings, works, projects or enterprises in the telecom industry whether of a private or public character or any joint venture with any government or other authority in India or elsewhere and to acquire and dispose of shares/securities in such companies, and funds and interest in such associations or partnerships. 2. To provide telecom networks and to run and maintain telecom services like basic/fixed-line services, cellular/mobile services, paging, videotext, voice mail and data systems, private switching network services, transmission networks of all types,

computer networks like local area network, wide area network, electronic mail, intelligent network, multimedia communication systems or combinations thereof. 3. To carry on the business of manufacturers, merchants, dealers, distributors, importers, exporters, buyers, sellers, agents and stockists, and to market, hire, lease, rent out, assemble, alter, install, service, design, research and improve, develop, exchange, maintain, repair, refurnish, store and otherwise deal in any manner in all types of telephone exchanges, telephone instruments -whether corded, cordless, mobile or of any other kind; tele-terminals, fax machines, telegraphs, recording instruments and devices, telephone message/answering machines and devices; dialling machines, trunk dialling barring devices, wireless sets and other wireless communication devices like radio pagers, cellular phones, satellite phones etc; telecom switching equipments of all kinds; telecom transmission equipments of all kinds, test equipments, instruments, apparatus, appliances and accessories and equipment and machinery for the manufacture thereof and to provide technical services in respect thereof or relating thereto.

Corporate Structure Our existing and proposed corporate shareholding structure is as under: To buy, sell, manufacture, assemble, repair, design, alter, research and improve, develop, exchange, warehouse, let on hire, import, export, and deal in all sorts of electronic, nonelectronic, computerized and electrical items and equipment including computer and data processing equipment, peripherals, printers, disc-drives, intelligent terminals, modems, software, hardware, personal computers, CAD/CAM computer, graphic systems, office automation equipments, word processors, photo setting, text editing and electronic printing and/ or typing systems, circuits, including integrated, hybrid, VLSI chips, microprocessors and microprocessor based equipment, semiconductor memories including bubble memories, discrete electronic devices, facsimile equipments, copying machines, Xerox machines, telephone cable pressurization systems, printed circuit boards, all sorts of automatic float charges, electronic, electrical and computerised systems and equipment and plant and machineries and field engineering support and for all above, their incidental and allied equipment, accessories, components, parts, sub-parts, tools, manufactured and semi manufactured goods, raw materials, plant and machineries, substance, goods, articles and things and VCR, VCP, cassettes, cameras, radios, stereo

and amplifiers, television sets, audio visual equipment, teleprinters, telecommunications satellite station and electronic equipment, remote control systems, business machines, calculators, hoists, elevators, trolleys and their components including valves, transistors, resistors, condensors, coils and circuits. To guarantee/counter guarantee the obligations of any of its subsidiary/associate/group companies and/or other companies in which the Company has equity interest under any agreements/ contracts/ debentures, bonds, stocks, mortgages, charges and securities.

Advertisement & sales promotion

ProductElectronic Recharge / Micro Prepaid

Airtel Live(Portal)

Hello Tunes(Ring Back Tones

Life time validity product Electronic Blackberry

Call home service

Money Transfer

Outlets Song Catcher

Easy Music

Portfolio Manager(Stock Tracker)