Further re: Obopay

RNS Number:0265U
Promethean India PLC
09 May 2008


For immediate release

                   Promethean India Plc  ("Promethean India")

             Promethean India Plc invests in Obopay Inc. ("Obopay")

Promethean India Plc (AIM:PTHI) is pleased to announce a further investment in
Obopay of US $1,000,000, through a subscription on 24 April 2008 for a number of
preferred "Series D" shares as part of a Series D funding round. The investment
is held through its Mauritian subsidiary, Promethean India Investments Fund 1
("Fund 1"). Fund 1 has previously taken part in a 'Series C' round of funding in
December 2007. The current round of financing for up to $45,000,000 was heavily
oversubscribed by Obopay's existing investors.  This round of funding was
completed at 2.7 times the valuation of the previous rounds in which Promethean
India and other investors participated. Essar Communications Holdings Limited
("Essar"), a privately owned company in India with considerable knowledge and
expertise of the Indian telecommunications market was also a major subscriber.

Obopay Inc is a privately owned company based in California which operates
mobile payment technology that allows mobile phone users to make payments from
their phones. Obopay's has been increasing its operations in both the US and
India and Promethean India has been a valuable ally in expanding Obopay's
business in India.

Gaurav Burman, a partner of Promethean Investments LLP, the entity that manages
Promethean India believes the investment from Essar will continue to strengthen
Obopay's business and growth in India. Fund 1's further investment represents
its continued support for Obopay and the opportunity to take a greater part in
its success.

Enquiries:

Gaurav Burman - Promethean Investments LLP [phone]

Nandita Sahgal - Seymour Pierce [phone]

Mark Edwards - Buchanan Communications [phone]

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 and its subsidiaries are advised by Promethean
Investments LLP and by an Indian resident 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.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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