Paraan Open Offer Details

Vivro Financial Services Pvt Ltd ("Manager to the Offer") on behalf of Mr. Kailash Hardattrai Biyani and Mr. Kishore Mohatta ("Acquirers") has issued this Public Announcement ("PA") to the equity shareholders of Paraan Ltd ("Target Company"), pursuant to and in compliance with among others, Regulation 10 and 12 of the Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 ("Regulations") and subsequent amendments thereto.

The Offer

The Acquirers are making an Open Offer to the shareholders (other than parties to the Agreement) of Target Company to acquire 5000 equity shares of Rs 100/- each representing 20% of the total equity share capital of the Target Company and 20% of the total voting capital of the Target Company at a price of Rs 180/- per equity share payable in cash (the "Offer Price").

Schedule of Activities:

Specified Date - December 20, 2007

Date of Opening of the Offer - January 16, 2008

Date of Closing of the Offer - February 04, 2008