Ib Deal Alert Notice

Business Highlights and Deal Alerts YES Bank acts as advisor to Arrow Webtex Limited on its preferential allotment of equity shares to funds managed by ICICI Venture and Pacific Corporate Services Limited Client name Region Country Industry Product Deal size

: Arrow Webtex Limited : Mumbai : India : Real estate, hospitality and gaming : Private Equity : US$ 31 million

Transaction Overview: YES Bank acted as financial advisor to Arrow Webtex Limited (“AWL” or the “Company”) on its preferential allotment of equity shares (at enterprise level) to funds managed by ICICI Venture Funds Management Company Limited (“ICICI Venture”) and Pacific Corporate Services Limited (“Pacific”). On February 14, 2008 and February 20, 2008, AWL executed a definitive agreement to issue preferential shares to Pacific and ICICI Venture, respectively. The preferential allotment was made at a per share price of Rs. 40.50, amounting to a combined investment of US$ 31 mn into the Company. Post the allotment, ICICI Venture and Pacific Corporate respectively hold 14.99% and 7.5% of the paid-up capital of the Company. AWL is promoted by Jaydev Mody, an eminent and successful Indian entrepreneur and erstwhile Managing Director of Peninsula Land Limited. AWL is in the business of real estate (in India and Africa), hospitality and gaming. Through its wholly owned subsidiary, Highstreet Multitrade (P) Limited, AWL plans to operate a casino and 50 key hotel on a vessel on the Mandovi river in Goa. The casino comprises 20,000 sq. ft. of gaming and entertainment area and is expected to commence operations by May 2008. AWL also plans to develop residential and commercial properties in Kenya and has already tied-in certain land parcels in this regard. The placement provides growth capital to AWL to pursue the aforementioned development objectives, which are high growth initiatives and expected to be EPS accretive. Market significance: • The transaction has many ‘firsts’ accredited to it, including: 1. First equity placement for a gaming (casino) project in India 2. First equity investment by Indian realty fund for real estate projects in Africa 3. First preferential placement by AWL in its corporate history • YES Bank has a long standing relationship with AWL and the Ashok Piramal Group which is demonstrated through the advisory services on this transaction. Other significant information: • The transaction solidifies YES Bank’s position as a leading advisor for Private Equity fund raising in the Real Estate, Hospitality and Gaming sectors. YES Bank team: Investment Banking Group Deal team leader signoff: Varun Kapur Deal team author: Gaurav Agarwal

For YES Bank employees only