1. The above results were approved by the Audit committee and the Board of Directors at their meeting held on February 25, 2009.

2. The above results have been audited by the Statutory Auditors.

3. The Scheme of Arrangement involving the Amalgamation of Charon Tec Ltd and Macmillan ICC Publishing Solutions Pvt Ltd with effect from December 31, 2007 ("Appointed Date") and the demerger of the publishing business undertaking into Macmillan Publishers India Ltd with effect from May 12, 2008 has been sanctioned by the Honourable High Court of Madras and has become effective from October 16, 2008. Accordingly, the above figures have been stated giving effect to the amalgamation and de-merger and therefore are not comparable with the figures of the corresponding periods.

4. The Company operates in a single segment "Publishing Services" post demerger and therefore, the information furnished relates to "Publishing Book-Selling" results only till May 11, 2008 and the Year to date "Publishing Services" numbers includes the merged entities-Charon Tec Ltd and Macmillan ICC Publishing Solutions Pvt Ltd.

5. In accordance with the recommendations on "Derivative positions of Companies" given by the Institute of Chartered Accountants of India, the Mark to market losses for the year ended December 31, 2008 is Rs 262.10 lacs.

6. For the year ended December 31, 2008 the Board of Directors have decided not to declare any dividend in view of the need to conserve resources in a globally challenging economic scenario & continuing significant Investments being made to secure growth.

7. Provision for taxation for the year ended December 31, 2008 includes deferred tax asset of Rs 6.99 Lacs (previous year deferred tax asset of Rs 52.05 Lacs) & Fringe benefit tax of Rs 43.56 Lacs (Previous year Rs 71 Lacs).

8. Previous period figures have been regrouped wherever necessary to conform to current period’s classification.

Rajiv Seth
Managing Director