R Systems JV with Total Information Management Corporation

New Delhi, May 19, 2006: R Systems International Ltd. The Company is planning to enter into a Joint Venture agreement with Total Information Management Corporation, a domestic corporation duly organized, registered and existing under and by virtue of the laws of the Republic of the Philippines, to participate in the eligibility, bidding and undertaking of the project relating to Acquisition and Implementation of an integrated loans, membership, acquired assets and accounts administration system.

The Management had submitted to the Board of directors, draft resolution along with necessary document for their approval by circulation.