Logix Microsystems successfully completes QIP

Logix Microsystems successfully completes QIP

Mumbai, September 28, 2007: Logix Microsystems, a leading global software products company focused on automotive e-retailing solutions, today successfully raised approximately Rs 98 crore through QIP offering of 31,00,000 equity shares of Rs 10/- each at an Issue Price of Rs 315/- per Equity Share.

The issue, lead managed by Prime Securities, generated significant interest from a number of high quality institutional investors, both overseas and domestic.

“We are extremely pleased with the successful outcome of our capital raising exercise. The funds raised will enable us to explore inorganic growth opportunities in the US, thereby significantly ramping up our customer base. The acquisitions being explored will place izmocars amongst the top three automotive e-retail solutions providers. Our aim is to establish leadership position in the US Automotive retail market within the next three years”, said Sanjay Soni, MD, Logix Microsystems Ltd.

About Logix Microsystems Ltd.

Logix Microsystems is a leading global software products company with a niche in automotive e-retailing solutions, targeted at the automotive dealer market in the USA & Europe. Logix provides customized web marketing platforms including online stores, car animation and graphics, online marketing tools, hybrid internet sales system among other products. The company has a client base of 700 clients covering 1000 rooftops. Key clients include General Motors, Ford, Mitsubishi, Autonation – the world’s largest auto dealership group, Yahoo Inc, to name a few.

For further information, please contact:

Mr. Sanjay Soni

Logix Microsystems Ltd

Tel: 080 – 26585985

Fax: 080 – 26580488

Email: s-soni {at} logixworld(.)com

www.izmocars.com

www.logixworld.com