With reference to the news item appearing in a leading financial daily titled “MCX to start comex operations in Singapore”, Financial Technologies India Ltd has clarified to BSE as under:

1. As stated in the Annual Report 2006-07, Singapore Mercantile Exchange is a Subsidiary of the Company.

2. The date for commencement of operations for the Commodity Exchange in Singapore shall be informed to the Stock Exchange(s), as and when it is finalized, in terms of the Listing Agreement.

3. As has been clarified by MCX Managing Director and Chief Executive Officer Mr. Joseph Massey ‘MCX is not doing anything of this sort in Singapore’ (as reported in Financial Daily).