News February 23, 2007

R Systems Announce its Board Meeting to consider its Quarterly & Annual Financial Results

1. To consider, discuss and approve the unaudited financial results for the quarter ended December 31, 2006 & the audited financial results of the Company for the financial year ended December 31, 2006.
2. To consider, discuss & approve the rescheduling of the object clause as stated in the prospectus subject to the approval of the shareholders in general meeting.
3. To consider, discuss and approve temporarily investment of IPO surplus funds in fixed/ term deposits with Schedule Banks in additions to Nationalized Banks subject to the approval of the shareholders in general meeting.
4. To consider, discuss and approve the adoption and implementation of New Employees Stock Option Plan for the employees of the Company and extension of its benefit to the employees of the subsidiary companies based in India and abroad of R Systems International Limited.
5. To consider & recommend the payment of dividend, if any, for the financial year ended December 31, 2006.
6. To consider, discuss and approve the increase in the remuneration payable to Mr. Satinder Singh Rekhi, Chairman & Managing Director of the Company.
7. To consider, discuss and approve the increase in the remuneration payable to Mr. O’Neil Nalavadi, Director Finance & Group CFO of the Company.
8. To consider, discuss and approve the increase in the remuneration payable to Mr. Raj Swaminathan, Director & Chief Operating Officer of the Company.
9. To consider, discuss and approve the increase in the remuneration payable to Mr. Sartaj Singh Rekhi, Executive Manager of our wholly owned subsidiary company R Systems, Inc.
10. To adopt & approve the annual report & to authorize the calling of the annual general meeting for the financial year ended December 31, 2006.

For further information please contact:
Nand Sardana (Tel No. 0120 - 430 3506)