Dear Shareholder''s
 
 In today''s dynamic business environment, change is the only constant.
 The year gone by has seen much volatility and uncertainty in global
 markets – be it the Euro zone debt crisis or the natural disaster in
 Japan – the repercussions were not limited to geographical boundaries.
 In today''s virtually connected world, unlike in the distant past, no
 country, economy or person is insulated from the situations or
 happenings in even the remotest parts of the globe. Gone are the days
 when it took days, even months for news to travel from one part of the
 world to another. Today, we are in an era where information travels at
 the speed of light and its impact and influence are felt all over
 almost instantaneously.
 
 The phenomenon will last forever, the world will continue to shrink and
 at the fulcrum of this change lies the fundamental need for
 connectivity. It is highly exciting times that we live in today, where
 connectivity is encouraging collaboration and inclusiveness like never
 before. There exists great opportunities for a company that is at the
 forefront of providing transmission solutions to address the
 connectivity needs of the power and telecom sectors; and the story only
 gets bigger and better. The vision of our company is to ''Connect every
 home on the planet'', which forms the basic tenet for all our business
 offerings. We endeavour to continue to be, a global provider of choice
 for all our customers to help them build infrastructure highways for
 data and energy transmission.
 
 Over the last 24 years, we have grown from being a small localised
 player to becoming a globally recognised brand, with physical presence
 in over 10 countries and a client footprint across 75 countries. Today,
 we are one of the few global companies who offer a unique mix of data
 and energy products and solutions.  Alongside this journey into new
 markets, we have embarked on a new journey: the journey of excellence.
 As a company we have all agreed to have only one core value – which is
 to deliver excellence to all our stakeholders in everything we do.
 
 Excellence as a concept is not only limited to business processes but
 also extends to our long-standing commitment to sustainable
 development. Conducting business in a responsible manner is an ethos
 that all our businesses and employees are committed to stand up to. We
 continue to endeavour to build products that are more efficient and
 would help reduce the global carbon footprint. We also remain committed
 to the community around us and constantly endeavour to increase our
 level of engagement with them.
 
 In this journey of growth through excellence, the most important
 stakeholders have been our employees.  The success that we have
 achieved and the growth that we have seen, is in no small measure the
 result of their contribution and the guidance provided by our able
 leadership team. On behalf of the board I would like to thank you, our
 dear employees for the sincere efforts each of you have put in towards
 our company''s goals. It is these efforts that have ascertained
 Sterlite''s growth from a products manufacturer to an organisation
 capable of delivering products, solutions and infrastructure to the
 telecom and power sectors.
 
 Outlook
 
 As infrastructure has become the new hallmark against which countries
 measure their standards of development, the medium- and long-term
 demands in both the telecommunication and power sectors will continue
 to be strong.
 
 Today, we continue to live in a world which is virtually getting larger
 and bigger, while at the physical level, it continues to shrink; I am
 optimistic about Sterlite''s robust business model, backed by an
 insatiable desire for growth.
 
 Anil Agarwal
 
 Chairman, Board of Directors
 Sterlite Technologies Limited