Reliance Infocom BV acquires eWave World

Mumbai

April 28, 2008

Reliance Infocom BV, a division of Reliance Globalcom, announced the
acquisition of eWave World. Over the next two to three years, Reliance Globalcom,
through eWave World, would invest around $500 million (Rs 2,000 crore) to build
and acquire WiMax networks in emerging markets in Asia, Europe, Latin America
and Africa.

Recently, eWave World had entered into a joint venture in China to invest in
nationwide broadband operations. The company holds WiMax licenses and has
received spectrum to commence WiMax services in several countries.

“The 4G WiMax network in 50 countries would enable us to offer services to
over 75 percent of global population in combination with Reliance Globalcom's
1,15,000km IP-enabled optic network spread across six continents,” said Punit
Garg, CEO, Reliance Globalcom.

“With the backing of Reliance, eWave World will deliver broadband services
to business and residential customers in numerous emerging markets,” said Jay
Metcalfe, Chairman, eWave World.

Last year, Reliance Globalcom had acquired US-based Ethernet service provider
Yipes Holdings Inc for $300 million (Rs 1,200 crore). Reliance Globalcom is
investing $200 million (Rs 800 crore) to more than double the metro coverage in
the US to over 35 top metros. The company has embarked on a $1.5 billion (Rs
6,000 crore) IP-enabled undersea cable expansion program that would address the
global connectivity needs of over 90 percent of world population across 60
countries in six continents.