Spice Mobiles rings in BIG growth

· Revenue Q2 FY09 – Rs. 2200 Million, 1.87 times YOY growth
· EBIDTA Q2 FY09 – Rs. 252 Million : 8 times YOY growth
· PAT for Q2FY09 at 164 million : 4 times YOY growth

New Delhi, October 29, 2009:

In continuation to its stupendous growth in Q1 of FY2009, Spice Mobiles has registered another strong performance for the quarter ended September 2009. Spice Mobiles has consistently been clocking exponential growth both in terms of volume and revenues

The company continues to expand its product portfolio with newer feature rich phones, with multiple utilitarian embedded applications. Spice Mobiles continued with a spate of successful product launches under the BIG series Multi-SIM, large battery phones. The company also launched a major promotional advertising campaign featuring the BIG Series phones on Television and in Print Media. Spice Mobiles launched a Market-First Flexi-Dual phone, the D-6666 (a Dual SIM phone with a GSM master SIM and a GSM or CDMA slave SIM option).

In terms of Channel Development, Spice Mobiles has worked on detailed strategy across all markets to further expand its retail distribution network comprising of more than 50 Regional Distributors and nearly 40,000 retail counters

Rajasthan, Assam, Haryana continue to be strong markets for Spice Mobiles where the company ranks second in terms of sales followed by Madhya Pradesh, Maharashtra (except Mumbai), UP and Uttaranchal. As part of its ambition and business objectives of globalizing its business, the company has begun accessing international markets with entries into SAARC, and is now seeking to enter the African market.

Commenting on the exponential growth of the company, Mr. Dilip Modi, Chairman Spice Mobiles Ltd. said, “We at Spice Mobiles understand the continued rapid adoption of the mobile phone device as well as the demand for competitive feature rich phones. Keeping innovation at the core of our business strategy, we have not only enhanced our product portfolio in line with evolving customer preferences, but also embedded enhanced features and Value Added Applications on our phones, which make them distinctly different from the competition. We pioneered the Dual-SIM phone category and have now moved towards creating a new sub-segment of Multi-SIM and Flexi-SIM phones. We have reached a quarterly benchmark sales level of approximately 1 million, and we are targeting 1 million handset sales per month within the next 12 months.”

About Spice Mobiles Ltd.

Spice Mobiles Ltd. is a part of Spice Televentures, the Telecom vertical of the diversified US$ 1.3 Billion Spice Global group. Spice Televentures is the pioneer of a services driven mobile ecosystem in India. With “Unconventional Wisdom” as the company’s core brand essence, Spice has revolutionized the Communications sector, with its innovative technology and advanced, feature rich mobile phones.

Spice Mobiles Ltd is the pioneer of the DUAL and MULTI/FLEXI SIM phones which have heralded a new market phenomenon in the mobile handset space.

Spice Mobiles is the proud winner of the Golden Peacock Award for innovative product / service for the year 2007. Spice Mobiles added more firsts to its credit by announcing the Global premier of the World’s First Movie Phone and Peoples’ phone at the World Mobile Congress, Barcelona in February 2008.

For further information please contact:

Sudeep Sengupta
Corporate Head PR & Communications – Spice Televentures
Email – sudeep.sengupta {at} spiceglobal(.)com
M- 9873004259

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Nupur/ Jagriti @
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