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Accentia Technologies Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 09, 2008, inter alia, has considered and approved the allotment of forfeited shares numbering to “3,28,500″ to the promoter Mr. Pradeep Suseela Viswambharan on preferential basis.

Having completed the formalities for allotment, the Company with in the set time frame preparing itself for the listing of the said allotted shares.

With reference to the earlier announcement dated July 08, 2008 regarding Board Meeting on Jul 09, 2008, Accentia Technologies Ltd has now informed BSE about the revised / corrected Board Meeting intimation :

Revised / Corrected Board Meeting intimation :

“Accentia Technologies Ltd has informed BSE that a meeting of the Boards of Directors of the Company will be held on July 09, 2008, inter alia, to consider the allotment of forfeited shares numbering to “3,28,500″ to the promoter Mr. Pradeep Suseela Viswambharan. The forfeited shares are going to be considered for allotment to Mr. Pradeep on July 09, 2008. The EGM has already approved the same for issuance to Mr. Pradeep at Rs 186/- per share.”

Accentia Technologies Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on July 09, 2008, inter alia, to consider the allotment of forfeited shares numbering to 3,28,000 to the promoter Mr. Pradeep Suseela Viswambharan. The forfeited shares are going to be considered for allotment to Mr. Pradeep on July 09, 2008. The EGM has already approved the same for issuance to Mr. Pradeep at Rs 186/-per share.

Accentia Technologies Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 31, 2008, inter alia, to consider the following:

- To decide on the EGM date for ratification of the issuance of shares on swap basis to the shareholders as a part consideration for the overseas Companies acquired by the Company. The Company hither to has obtained the pre-approval of the exchange and FIPB for the same.

Accentia Technologies Ltd has informed BSE that the Company as a part of its expansion strategy in setting up Global Delivery Centers has acquired, One acre of land at SEZ, Visakhapatnam, Andhra Pradesh and One Acre of land at New IT Zone, Bhubaneshwar, Orissa.

To serve the increasing order book pipeline, the Company has been increasing its manpower base and intends to tap the upcoming I.T centers like Visakhapatnam and Bhubaneshwar. The Company has an Outsourcing Delivery Center already functional at Bhubaneshwar with a manpower base of over 150 resources working for the Company. With the increase in manpower the Company has plans to set up its own infrastructure in the New IT Zone, Bhubanehwar, Orissa. The Company also intends to setup its state of art infrastructure facilities of its own at SEZ, Visakhapatnam.

Commenting on the above, the Director and CEO of the Company, Mr. Pradeep Viswambharan mentioned that, in commensuration with our increasing manpower needs we intend to tap the manpower in emerging IT hubs like Visakhapatnam and Bhubaneshwar. Our land acquisition strategy is to develop our own infrastructure facilities in IT Zones and SEZ’s on long term basis, to avail the inherent benefits that these places offer to IT and IT enabled services Companies. With the current land acquisition Accentia is poised for strengthening its own infrastructure facilities and a base of the Company.

Accentia Technologies Ltd has informed BSE that the Company has received USD 4.5 M order for its Health Care Receivables Management Services from a leading US based hospital chain. The Order has to be serviced by Company over a period of 18 months starting from May 05, 2008 onwards.

The composition of work in executing the order involves Billing, Coding and Claims Management of the leading hospital chain in USA.

Commenting on the order Mr. Pradeep Viswambharan mentioned that the current order is a natural extension to our value added services. Billing, Coding and Claims Management are the value added services and we have already did Pilot Runs and successfully demonstrated our Company’s abilities in handling such outsourcing works for the said client from whom we have procured the current order.

Further Mr. Pradeep added that with the order book position strongly getting built we are poised to see a 35% growth in our revenues in 2008-09. The Company has scheduled its Q4 results which are going to be announced on April 23, 2008.

Accentia Technologies Ltd has informed BSE that the Company has acquired 51% stake in Oak Technologies Inc, USA. In an All Cash Deal, the Company has acquired 51% stake in Oak Technologies Inc, USA (OTI, U.S.A) an Integrated Services Provider in the filed of Healthcare Receivables Management Operating from US and Several Locations in India.

Through this acquisition, Accentia got into its fold a global workforce numbering 700.
OTI, U.S.A. has 5 units operational in U.S.A and India. In India, OTI has its presence in
Hyderabad, Nagpur and Bhubaneshwar.

Accentia plans to build on its acquired OTI base through aggressive Human Resource development over the next 2 years. Accentia plans to add about 2000 more personnel at the above-mentioned locations. Accentia aims at a HR pool of 5500 by the end of 2008-09 financial year.

Commencing on the above, the CEO and Director of Accentia Technologies, Mr. Pradeep Viswambharam, stated that, through the current acquisition, which is an “all cash deal”, the Company has put in place the internal accruals in a synergistic operational investment and the current acquisition paves the way for enlarging our manpower base to meet the increasing order book pipe-line, besides catering to the existing customers.

Accentia Technologies Ltd has informed BSE that the Company’s Global Depository Receipts got successfully listed on Singapore-SGX on March 03, 2008.

The GDR got subscribed at Rs 180/- per GDR.

Commenting on the successful listing of GDR’s on SGX, Company’s Managing Director Mr. Pradeep S Viswambharan said that the confidence shown by the international investors in our GDR is an indication of Accentia becoming a true Indian Multi National, with its business spread across Europe and U.S.A with the delivery centers in India located at Trivandrum and Bangalore.

Accentia Technologies Ltd has announced that the Company with its primary focus on Health Care Receivables Management Solutions has launched various E-Learning Modules at Trivandrum on February 07, 2008.

The Accentia HCRM E-Learning Modules known as Accentia HCRM Suite. The HCRM Suite provides the information that healthcare receivables management professionals use daily in the healthcare environment. Both new learners and experienced professionals can benefit from this combination of in-depth knowledge and overview of HCRM Suite. Topics include Patient Financial Services, Managed Care, and many more topics central to healthcare receivables management.

A full listing of HCRM Suite is listed below.

1. HCRM Health Care Industry Overview

2. HCRM Internal Control’s of Hospitals

3. HCRM Regulatory Environment of Hospitals and Corporate Compliance

4. HCRM Patient Financial Services and Revenue Cycle

5. HCRM Quality and Patient Safety

6. HCRM Legal Aspects and Physicians Practices.

7. HCRM Accounts Receivables Management

8. HCRM Patient Financial Services: Policy, Planning, and Evaluation

9. HCRM Claims Processing

10. HCRM Patient Billing and Coding Systems

11. HCRM Collection Policies and Evaluation

12. Physician Practice Mgmt: Integrated Health Systems & Managed Care

13. Physician Practice Mgmt: Insurance and Risk Management

Commenting on the launch of the series of E-learning Modules, packaged as Accentia HCRM Suite, Mr. Pradeep S Viswambharan, the Director and CEO of the Company stated that the HCRM-Suite enriches the HCRM professionals working in Health Care BPO’s to a great extent and also provides a platform for the aspirants to get into Heath Care BPO’s to get fully equipped with the Know-How prior to they taking up their Job’s.

The Global Potential of such kind of e-learning package is estimated to be in the range of around USD 1 Billion as per the industry studies. Accentia with its e-learning modules is targeting the Global and Indian markets to tap the potential.

The HCRM Suite has been priced attractively keeping in mind the Institutional and Individual requirement which Includes Customization of Lessons.