With reference to the news item appearing in a leading financial daily on March 04, 2008 titled “MCX’s Jignesh Shah under SEBI scanner?”, Financial Technologies India Ltd has clarified the facts as under:

“? Mr. Jignesh Shah is not under any investigation in his personal capacity nor he has received any Notice from SEBI in this regard. Further, Mr. Jignesh Shah has not traded in the shares of Financial Technologies (India) Ltd.

? SEBI sent a letter seeking information in September 2005 to La-Fin Financial Services Ltd (LFS), the promoter of Financial Technologies (India) Ltd. (FTIL), regarding shares it sold during the month of December 2003. This was promptly replied. A similar letter was also received by FTIL.

? In November 2007 FTIL received another letter seeking further information on the matter. This was also replied promptly.

? All facts and explanations that SEBI has sought have been duly submitted.

? Since the matter is pending with SEBI, we considered it prudent not to comment on it.

? Multi Commodity Exchange of India Ltd., promoted by FTIL, has duly disclosed the information in its DRHP filed with SEBI as early as 2006 and also in February 2008.

? There is no other investigation by SEBI, as we are aware of by SEBI, against Financial Technologies Group, save and except what has been mentioned above.

The Financial Technologies Group practices, and will continue to practice, the highest standards of transparency and corporate governance expected of us by our investors and stakeholders.”