BillDesk in Deloitte Technology’s Fast 500 Asia Pacific 2006 program

BillDesk in Deloitte Technology’s Fast 500 Asia Pacific 2006 program

Award recognizes BillDesk as a top 500 fastest growing Asian technology company

Mumbai, India, November 22, 2006 – BillDesk, the flagship brand of IndiaIdeas.com Ltd., and India’s leading Payments and Remittance services provider, has been named a winner in the Deloitte Technology Fast 500 Asia Pacific 2006 Program. “We are delighted to be a winner of Deloitte’s Technology Fast 500 Asia Pacific. We are especially proud of this award as it communicates our sustained high revenue growth over the past few years, provides a strong endorsement of our superior products and services and most importantly is a testimony to the strength of the BillDesk business model. Our customers, partners and market presence continue to demonstrate our momentum in the marketplace as we innovate and implement payments and remittance solutions for the various industry-verticals and markets.” said M.N. Srinivasu, Co Founder, BillDesk.

The Deloitte Technology Fast 500 Asia Pacific program is the region’s most objective industry-ranking standard to focus on the technology field. It was created in 2001 to recognize the effort and dedication of the 500 fastest-growing technology companies in Asia Pacific and includes all areas of technology, from Internet to biotechnology, from medical and scientific to computers/hardware. It includes both public and private companies. The awards, recognizes technology companies that have achieved the fastest rates of annual revenue growth in Asia Pacific during the past three years. The program is supported by the Deloitte Technology Fast 50 initiatives, which rank high growth technology companies by location or specifically defined geographic area

BillDesk was also recently named top Red Herring 100 winner an award that recognises and highlights those companies who have shaped the future of technology innovation and transformed markets.

BillDesk powers electronic payments and collections services for the largest banks and companies in India and also manages the bill payment service of Visa in India. It operates as a neutral service bureau aggregating multiple banks, billing companies and other corporations onto a common standards-based platform for delivering electronic payments and collection services across multiple electronic channels. Banks like Citibank, HDFC Bank,

SBI and companies like Hutchison Essar, Bharti, are among the leading users of BillDesk Electronic Payments and collections services.

BillDesk has recently secured strategic financing of $7.5 million from State Bank of India, India’s largest bank and Clearstone Ventures Advisors, a leading early stage venture capital fund with successes such as PayPal, Overture and MP3.com.

About IndiaIdeas:

A flagship brand of IndiaIdeas.com Ltd., BillDesk is India’s leading Payments Service Provider. It operates as a neutral service bureau aggregating multiple banks, billing companies and other corporations onto a common standards-based platform for delivering electronic payments and collection services across multiple electronic channels. It delivers and manages specialized electronic payments solutions of various vertical markets such as banking, telecom, insurance, utilities and financial services. Built on a versatile platform, BillDesk makes the payments experience, faster, more convenient, more reliable and more secure for both the consumer and the banks. Founded in 2000, the Company has one of the strongest management teams and infrastructure in this industry with over 175 employees and offices in 23 cities across the country

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. Deloitte Touche Tohmatsu is an organization of member firms around the world devoted to excellence in providing professional services and advice, focused on client service through a global strategy executed locally in nearly 140 countries. With access to the deep intellectual capital of approximately 135,000 people worldwide, Deloitte delivers services in four professional areas – audit, tax, consulting and financial advisory services – and serves more than 80 percent of the world’s largest companies, as well as large national enterprises, public institutions, locally important clients, and successful, fast-growing global growth companies. Services are not provided by the Deloitte Touche Tohmatsu Verein, and, for regulatory and other reasons, certain member firms do not provide services in all four professional areas.

As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other’s acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names “Deloitte,” “Deloitte & Touche,” “Deloitte Touche Tohmatsu,” or other related names.

For further information contact:

M.N. Srinivasu 	Ruchi Mehta / Piyali Dasgupta
IndiaIdeas 	Adfactors PR
Tel: +91 (22) 6692 0010 	Tel: +91 (22) 22871361
Mobile : +91 9821018016 	Mobile : +91 9833052656
Email : vasu {at} billdesk(.)com 	Email : ruchi.mehta {at} adfactorspr(.)com
Website : www.billdesk.com