OnMobile Global

Dear Shareholders,
 
 The year 2008-09 witnessed one of the most demanding market conditions
 across the globe, and most industries suffered from the impact of a
 global recession led by the financial meltdown in the western world.
 Fortunately, the telecom industry in India has been one of the lesser
 affected industries, and continues to be one of the key drivers of the
 robustness of the Indian economy and the consumer market. Our
 established leadership in this huge Indian market was instrumental in
 our riding out the storm. Due to macroeconomic factors, the year
 2008-09 was not typical for companies to perform up to their true
 potential. In spite of all this, I am happy that OnMobile delivered
 fairly impressive results even under these prevailing adverse
 circumstances.
 
 After an exciting and passionate journey in the growing Mobile Value
 Added Services (MVAS) sector, the year 2008-09 was the year to recharge
 our energies and
 
 consolidate our industry leadership position. In this direction we took
 several new initiatives during the year, including a renewed commitment
 to expand internationally, launch new innovative products, and
 capitalize on the leadership position we enjoy in the Indian MVAS
 market. We implemented this by strengthening our senior management team
 with the appointment of a new President and COO, completing the
 acquisition of our second company in Europe, and launching several new
 customer deployments outside India.
 
 I recall my message to the shareholders last year, where I had said
 that OnMobile will play a significant leadership role in shaping and
 leading the MVAS sector as it gains momentum throughout the world. In
 this regard, as thought leaders, the entire OnMobile products team has
 been launching innovative, first-of product
 
 launches such as Music Search, and development of new foreign
 language voice portals. We continued with our global expansion plans by
 taking big leaps in the international markets. As you are aware, we
 have signed a global agreement with Vodafone to deploy our MVAS
 services across the globe. We have also made further inroads into
 Bangladesh, South Africa, Eastern Europe and other Asia Pacific
 countries where we already have our strong presence.
 
 We are living in exciting times! The MVAS sector globally is poised to
 experience explosive growth around the world as telecom operators
 eagerly seek to offset declining core business revenues with MVAS.
 Growth in smartphones and data-enabled handsets like the iPhone,
 increased rollout of 3G networks, increased user sophistication and
 willingness to use mobile internet and other such MVAS services as well
 as higher teledensities in large, fast growing emerging markets are all
 contributing to the MVAS
 
 juggernaut. We are superbly positioned to capitalize on these themes
 and lead the industry.
 
 We will use all our acumen, innovation, financial strength, vision,
 scale and operational excellence to get there well before the
 competition does. We will use both organic and inorganic routes to
 complete our product and market strategic requirements. And we will
 relentlessly continue our dedication to customer satisfaction, market
 and product leadership and stakeholder wealth creation.
 
 I welcome all of you as shareholders to join us as we sail into the
 next phase of our quest for global MVAS leadership!
 
                                     Arvind Rao
                               Chairman, CEO & co-founder