Investment in Nitco Tiles

RNS Number:7746D
Promethean India PLC
13 September 2007

Embargoed 7am

13 September 2007



                              Promethean India Plc



                       Investment in Nitco Tiles Limited



Promethean India Plc. ("Promethean India") is pleased to announce that it has an
economic interest in a 5.28 per cent. stake in Nitco Tiles Limited ("Nitco Tiles
") through its Mauritian subsidiary, Promethean India Investments Fund 1 (the "
Fund"). Nitco Tiles is listed on the Bombay and National Stock Exchanges in
India and is one of India's leading building products company manufacturing and
distributing all types of ceramic tiles and imported marble. The company also
has a newly formed real estate development business through it's wholly owned
subsidiary.



Promethean India have known the management of Nitco Tiles for some time and are
pleased to have the opportunity to be working with them in their strategy to
continue to build the business. The Board of Promethean India believe the
company is in a phase of rapid growth and are looking forward to benefit from
the company's scale and brand recognition during a period of significant growth
in the building and construction industry in India. The company is also
vigorously pursuing its objective of creating value in the Real Estate sector
and is in negotiations for undertaking many more projects.



Promethean India's mandate and investment strategy calls for the Fund to invest
in both listed and private businesses in India that can benefit from the Funds'
relationships and expertise. In India the Board believe that the Fund's
relationship with the Burman family, who control Dabur, will be strategically
beneficial to Nitco Tiles in implementing their growth strategy.



Gaurav Burman, a principle of Promethean Plc commented, "Nitco Tiles has grown
its business aggressively over the past few years. We feel we are investing
alongside a world-class management team and look forward to their continued
success in both their tile business and their newly formed real estate division.
We will of course be available to lend any assistance whatsoever should the
management wish to call upon it".

Enquiries:

Gaurav Burman        Promethean Investments LLP              [phone]
Nandita Sahgal       Insinger de Beaufort                    [phone]




Promethean India plc is managed by Promethean Investments LLP which is
authorised 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.



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