Logix Microsystems Q2FY08 net profit up 109 %

Logix Microsystems Q2FY08 net profit up 109 %

Media Release

October 30, 2007: Logix Microsystems, a leading global software products company focused on automotive e-retailing solutions, has reported significant growth in revenue and profits for the quarter ended September 30, 2007.

During the quarter, the company posted a growth of 51.56 per cent in net sales at Rs. 13.05 crore as compared to Rs 8.61 crore in the corresponding quarter previous year. Net profit for the quarter stood at Rs 4.21 crore, a 108.91 per cent rise over Rs 2.01 crore in the corresponding quarter previous year.

Commenting on the results, Mr Sanjay Soni, Managing Director, Logix Microsystems Ltd, said, “Our business has grown at an encouraging pace this quarter and we have managed to contain costs as well, which has reflected favourably on the bottomline. Going forward, our focus will be on consolidating growth and we are exploring new avenues for the same. ”

Logix recently 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 company also subsequently converted 6.25 lakh warrants into fully paid up equity shares of Rs 10 each. The warrants had been issued at Rs 250 per warrant in April 2006.

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 600 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