Status of Investor Complaints for the quarter ended March 31, 2009

Complaints Pending at the beginning of the quarter Nil

Complaints Received during the quarter 05

Complaints disposed off during the quarter 05

Complaints unresolved at the end of the quarter Nil

1. The financial results were reviewed by Audit Committee and approved by the Board of Directors in their meeting held on June 30, 2009.

2. The consolidated financial results include un-audited results of International SQL Star Pvt Ltd., Singapore&#59; SQL Star International Inc., USA&#59; the wholly owned subsidiaries of the Company and the audited results of SQL star International Pty Ltd, Australia the wholly owned subsidiary of SQL Star International Inc., USA.

3. The Company operates in the following primary business segments viz., Software Development & Services, Education and Training, e-Governance and accordingly segmental reports have been disclosed.

4. Exceptional items represent provision for permanent diminution in the value of investment in the USA Subsidiary owing to the global recession.

5. No provision for current tax is made, there being no taxable Income under normal computation as well as u/s. 115 JB of the Income Tax Act, 1961.

6. Liability for deferred tax is recognized while Deferred Tax Asset is not recognized in accordance with Para 17 of AS 22.

7. Diluted EPS is ignored as It is anti-dilative.

8. Figures of the previous year/period have been regrouped and/or re-classified or recast or re-arranged wherever considered necessary.

N R Ganti
Chairman & Managing Director