Nucleus Software Exports

Nucleus Software Exports Ltd has informed that the Board of Directors of the Company at its meeting held on October 10, 2007 has decided to exercise 'Put Option' (subject to regulatory approval) on the 10,040,000 equity shares (25.1% of shareholding) held by the Company and its nominees, in GMAC Financial Services India Ltd. The option shall be exercised in terms of the shareholder agreement with General Motors Acceptance Corporation (GMAC USA).

The abovementioned shareholding was acquired in September 2004.

In this regard the Company has issued the following Press Release:

Nucleus Software Exports Ltd on October 10, 2007 has announced the commencement of the Benelux implementation of FinnOne™ retail suite for GMAC International Operations post the successful implementation in Italy.

Also, having fully accomplished the strategic benefits of the investment in equity capital of GMAC Financial Services India Ltd (GMAC India), the Company has decided to exercise 'Put option' (subject to regulatory approval) on the equity shares in GMAC India, in terms of the shareholder agreement with GMAC Financial Services. This coincides with GMAC Financial Services stepping up their equity investment in GMAC India.

In 2004, the Company, one of GMAC's key international IT partners had acquired 25.1% of GMAC's Indian operation.

Commenting on this development, Mr. Vishnu R Dusad CEO & Managing Director, of the Company said, "Our association with GMAC continues to be a truly enriching experience. As partners we have gained deep insights and understanding of processes within the markets in which our clients operate. With successful implementation of FinnOne™ suite at Italy, we are now geared up for the next phase at Benelux."