Aegis Profile January 2009

Quick Snapshot US$ 500 MM Integrated BPO Leader Interaction Services Back Office Services Value Added Services Status in the Tele-Services Industry 20+ years of service experience Aegis is a Tier One contact center company which has been rated in the Top 25 contact center companies of the world (Source: Datamonitor) Ranks among the Top Contact Centers in India (Source : NASSCOM, Dataquest) Expertise in Telecom, Banking, Insurance, Financial Services and Healthcare Aegis is owned by Essar Group

Parent Overview – The Essar Group Essar House, Mumbai, India Leading Pan-Asian Business Conglomerate Projected Annual Revenue of US$ 18 billion for FY08 Strong Balance Sheet with Equity Base of US$ 10 billion Operations in 130 countries Telecom & BPO Shipping Power Oil Steel Construction

Global Footprint 4 Centers 10 in the US 1 in Costa Rica 15 in India 5 in Philippines 1 in Kenya Employee Strength: 31,000+ Seats: 20,000+ 4

Current Client Profiles Healthcare Banking Insurance Travel & Hospitality Telecom Retail/CPG IT Hardware 3 of the world’s Top 10 telecom companies 5 of India’s Top 6 telecom service providers 5 Fortune 500 Banking and Financial Services companies 2 of the Top 10 private life insurance companies in India 2 of the worlds Top 5 Healthcare Companies Large Asian Healthcare group Healthcare Telecom BFSI More than 50 Global 1000 Companies 5

Select Clientele - International Industry Verticals ` Telecom ` Financial Services ` Healthcare ` Travel & Hospitality ` Retail / CPG 6

Select Clientele - India Industry Verticals ` Telecom ` Banking ` Insurance ` Healthcare ` Computer Hardware ` Retail / CPG 7

Growth Story:2003 - 2008 Aegis acquires Swift Response, CFS and Orion Dialog 2,432 Essar acquires Aegis Com Group Aegis acquires eTelequest 3,637 7,944 $ 94 m Aegis acquires Technion 13,132 $ 137 m Aegis acquires Global Vantedge 19,027 $ 240 m Aegis acquires Bharti Teletech and Stesalit Infotech Q2 Q3 2004 2005 2006 2007 2008 Q1 Q4 2009 24,000 18,000 12,000 6,000 30,000 31,000 +, $ 500 m + No. of Employees Significant Acquisitions Aegis acquires People Support Inc. Aegis acquires AOL India

Indian BPO Industry Anil Modi

History of BPO in India

Drivers of Industry - Then Captives lead the way – Comfort of home Non customer facing tasks – No threat Large labor pool availability – Labor arbitrage Bandwidth availability – Low Technology Challenge Initial trials very successful – Expands with more trials IT as established outsourcing practice

Circle of Need Demand Management Supply Management Inquiry Handling Telemarketing-Negotiation & Closing Inquiry Handling Demand Management Payroll Benefits Accounts Payable Accounts Receivable General Ledger Tax Management Treasury and Risk Management Reporting Customer Acquisition Customer Retention AR/AP Customer Selection Enterprise Services Human Capital Finance and Regulatory Facilities Mgmt./ Admn. IT Customer Extension Claims Processing Payroll Benefits Education and Training Hiring and Recruiting Personnel Administration Buy Move Store Make Policy Administration Supply Management Supply Management Document Management Billing

Evolution of providers Competitive Advantage “Make Me Money” Transformational Business Value Effectiveness-Focused “Make It Better” Enhancement ~5% ~15% Utility Efficiency-Focused “Make It Cheaper” Ability to demonstrate all models to our clients ~80% Relationship Complexity

Current Landscape

Future Outlook The Indian BPO industry is poised to grow nearly five-fold to $ 50 billion by 2012, a study by India's National Association of Software and Services Companies (Nasscom) and consulting organization Everest Group. The Indian BPO industry employs about 700,000 people across 25 countries and accounts for about 40 % of the total global BPO offshore market. The industry aims to provide direct employment to over 2 million people in next five years in India alone.

Skills – To deliver BPO Agents Team Leads Supervisors Hr Manager Quality Auditor Accounts Operations Managers Account Managers Other corporate functions like Sales & Marketing & Finance

Infrastructure – To deliver BPO Clean floor layout to accommodate desk banks Desk Space ~ 70 sq ft TL/Supervisor Space at bank head HR, QA and Accounts within easy access of all banks Canteen, Recreation Area in separate area Secured Access Data Center PC’s, Phones and LAN Telecom connectivity Internet connectivity

Pricing Models Manpower based ($/FTE, $/Payroll Hr) Utility based ($/minute on call) Transaction based ($/transaction) Cost + basis (Cost + $) Base + Performance ( Base ± Variable)

Reasons to Outsource – Greatest Value Flexibility Focus on Core Business Improve control on process Reduce Cost Improve Scalability Shared Learning

Reasons to Outsource – Challenges Faced Transfer of Corporate culture Adaptation of contracts to future needs Closure of feedback cycle for improvement Risk of unknown with a new partner

Thank You