FII Registration

RNS Number:6450T
Promethean India PLC
02 May 2008



                              Promethean India PLC

            FII Registration and Sub Account Registration from SEBI

Promethean India PLC (AIM: PTHI) ("Promethean India") is pleased to announce the
registration of its Investment Manager, Promethean Investments LLP as a Foreign
Institutional Investor ("FII")  with Securities and Exchange Board of India 
("SEBI") with effect from 11 March 2008.

The Indian government restricts access to foreign capital coming into the Indian
capital markets to FIIs. As a consequence most non-Indian institutional
investors invest in India through offshore derivative instruments, which are
also known as Participatory Notes or P-Notes. The P-Notes are themselves issued
by FIIs, who use the funds from the P-Notes to invest into the underlying
companies.

In October 2007, the Indian government put restrictions on issue of P-Notes. In
particular, FIIs could issue P-Notes up to a maximum of 40% of the FII's total
assets under custody. In addition, the FIIs and sub-accounts who had issued
P-Notes above the 40% limit with the underlying as derivatives were required to
unwind their positions to the 40% limit over 18 months. Further, the
sub-accounts who had issued P-Notes above the 40% limit were required to unwind
their positions to the 40% limit over 18 months.

At the introduction of the restriction the notional value of P-Notes was
estimated to be approximately 51.4% of all assets under all the FIIs present in
India (source: Times of India, 17 October 2007). As a result, FIIs that had
exceeded the 40% limit have been allowed to issue P-Notes only against
cancellation, redemption or closing out of the existing P-Notes of at least
equivalent amount.

By achieving the FII status, Promethean Investments LLP is able to invest
directly into the Indian capital markets and not rely upon P-Notes, giving the
Company considerable flexibility to carry out its investment strategy.

Promethean India is also pleased to announce the registration of Promethean
India Investments Fund 2 as sub account of the Investment Manager, Promethean
Investment LLP with SEBI.

Enquiries:

Gaurav Burman   - Promethean Investments LLP [phone]
Nandita Sahgal  - Seymour Pierce Limited [phone]

Promethean India plc is managed by Promethean Investments LLP which is
authorized and regulated by the Financial Services Authority.

Notes to Editors:

Promethean India PLC

Promethean India PLC, an investment company that focuses on businesses that are
established or operating in India, was admitted to trading on the Alternative
Investment Market ('AIM'), under the ticker symbol PTHI for the Ordinary Shares
and PTHW for the Warrants.

The Company raised #50 million (gross of expenses) via a Placing of new Ordinary
Shares and Warrants .The Company and its subsidiaries are advised by Promethean
Investments LLP (the 'Investment Manager') and by an Indian resident investment
adviser (the 'Investment Adviser').

Promethean Investments LLP

Promethean Investments LLP is a specialist fund manager that focuses on activist
private equity investing in both quoted and private UK and Indian businesses.
Promethean aims to acquire an interest in public and private companies where it
believes opportunities exist to create or unlock near-term value. It combines
active management, financial leverage and flexibility to create bespoke deal
structures for quoted and unquoted companies.

Promethean Investments LLP manages Promethean Plc, a #57 million AIM quoted
private equity fund and also manages Promethean India Plc, a #50 million AIM
quoted private equity fund that targets value and growth opportunities in India.




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