ISGN Technologies appoints H. Venkatesan as Senior Vice-President, Global Human Resource

ISGN Technologies appoints H. Venkatesan as Senior Vice-President, Global Human Resource

Chennai, December 18, 2006: ISGN Technologies Ltd. (ISGN), part of the U.S. $ 2 Billion K.K. Birla group and the leading IT solutions provider in the U.S. Mortgage Industry, announced the appointment of Mr. H. Venkatesan as Senior Vice President, Global Human Resource. He will be responsible for ramping up the headcount in India and U.S. to match ISGN’s aggressive growth. He also brings in his expertise in global HR Best Practices into the organization.

With ISGN proceeding at an aggressive pace having identified a classic consolidation strategy via judicious acquisitions, which could dramatically alter the cost structure of loan production and servicing, Venkatesan joins the organization at a critical growth phase.

Mr. Krishna Srinivasan, Chief Executive Officer, ISGN, said “I am very happy that Venkatesan has joined us at an opportune time bringing his strengths in building and enforcing a global company. ISGN is at a very important juncture; aggressively expanding its operations globally. His experience in large organizations in furthering operations and exposure to administering best practices will be of immense help to us.”

Venkatesan is an industry veteran with over 23 years of experience in the IT industry. Prior to joining ISGN, Venkatesan was Vice-President (Human Resource) with Covansys. He was responsible for the organization’s HR Practices being assessed at CMM Level 5 by SEI. He also played an active role in Covansys being placed in the eighth position in the “Top 10 Companies to work for in India’ by Business Week in 2005. Venkatesan has also worked with HCL Technologies, Computervision Corporation, HCL- Hewlett Packard, Tata Consultancy Services and Kudremukh Iron Ore Company Ltd.

“I’m very pleased to be joining ISGN’s first-class leadership team,” said Mr. Venkatesan “at a time when ISGN is uniquely positioned as the first mover in building a Mortgage Industry vertical by integrating the people who bring in Industry knowledge and expertise. To be a part of a team that is working to realize the goal to be a dominant player, offers an exciting opportunity to build a culture for growth. ”

About ISGN

ISGN Technologies Ltd, is a leading global technology solutions company delivering business solutions to its clients worldwide. The company is focused on servicing the asset backed lending space offering a full spectrum of Technology Solutions, Advisory Services and BPO. ISGN is focused primarily in the U.S. residential mortgage market, servicing top lenders through its subsidiaries having a strong team of domain experts and industry luminaries. Headquartered in India, the company has its Software Development Centers in Chennai and New Delhi, with Global offices in the UK, USA, and Singapore. The company, founded by the K.K.Birla Group, one of India’s leading conglomerates, has over 12 years of industry experience. For further Information on ISGN, please visit www.isgn.com

For further details on this release, please contact:

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| Uma Mahesh                    | Sriganesh R                   |
| General Manager/ Corporate    | Account Manager               |
| Communications                | 20:20 MEDIA                   |
| Ph: +91-44-28153515 Ext 2202  | Ph: +91-44-28260145           |
| uma.mahesh {at} isgn(.)com           |Sriganesh {at} 2020india(.)com        |
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