Investment in Obopay, Inc.

RNS Number:8378A
Promethean India PLC
25 July 2007

For Immediate Release

25 July 2007



Promethean India Plc



Investment in Obopay, Inc.



Promethean India Plc (AIM: PTHI) ("Promethean India") is pleased to announce
that it has acquired a 1.67% shareholding in Obopay, Inc. ("Obopay"), through
its Mauritian subsidiary, Promethean India Investments Fund 1 ("Fund 1"). The
investment, in an aggregate amount of approximately #723,000, took the form of a
subscription in respect of Obopay's Series C Preferred Stock. The total Series '
C' financing was for US$29 million. Promethean India joined other investors
including Richmond Cellular, an affiliate fund of Richmond Management LLC who
led the round, Qualcomm, Redpoint Ventures, Onset Ventures, Alliance Bernstein
L.P., Citigroup and Societe Generale.



Obopay (www.obopay.com) is a service provider for payments via mobile phones.
Obopay delivers instant payment solutions that allow consumers, merchants,
banks, and carriers to embrace the power and convenience of instant mobile
payments. The company is bringing mobile payments to more consumers through
alliances with, amongst others, Verizon Wireless, Citigroup, and America Online.



Promethean India is backing the incumbent management team of Obopay and will be
particularly focused on helping the company roll out their technology and
business in the Indian market. Obopay India, which is based in Bangalore,
already has significant traction with a number of banks and cellular service
providers. Promethean India is leveraging off the experience and success of its
members' previous investments in the financial services sector in India.



Promethean India has now made its second investment since raising #50 million
and being admitted to trading on AIM in April of this year.



Mohit Burman, chairman of Promethean India Advisors Private Limited, the
Investment Adviser to the Promethean India group, said today: "This was a
proprietary transaction which was offered to us because of the relationships we
have with leading Indian businesses in the financial as well as mobile
telecommunications sectors. As part of this initial financing we will also be
working on assisting Obopay India to capitalise on the growth it has already
demonstrated."



Gaurav Burman, a principal of Promethean Investments LLP, the Investment Manager
to the Promethean India group, said today: "Obopay is representative of our
mission to invest in and partner with exciting businesses that can change the
manner in which business is done in India. Obopay's technology will allow
individuals who are frustrated by the lack of banking infrastructure in India to
have access to a full range of banking facilities over their mobile phones."





Enquiries:

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




Promethean Investments LLP is authorised and regulated by the Financial Services
Authority.



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Notes to Editors:



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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