Karuturi approves stock split

Karuturi Networks Ltd has informed that the Board of Directors of the Company at its meeting held on January 30, 2008, inter alia, has transacted the following business:

1. It is proposed to split the face value of its Equity Shares from the existing Rs 10/- per share to Rs 1/- Share subject to the approval of the share holders.

2. It is proposed the enhance Board's borrowing powers from the existing Rs 500 crores to Rs 1500 crores keeping in view of its capex plans in the next financial year after obtaining the consent of shareholders.

3. It is decided to float 3 new subsidiaries for undertaking its diverse business interests as under:

(a) Karuturi Floritech P Ltd - for its floriculture division
(b) Karuturi Foods P Ltd - for its food processing division
(c) Karuturi Flower Express Pvt Ltd - for its retail division.

4. It is proposed to drop the word 'Networks' from its name i.e. Karutri Networks Ltd and to retain Karutri Ltd or such other name as may be made available by the Central Government.

5. Mr. Siddhartha K Mukherji and Mr. Satish Caroli are appointed as Directors of the Company.

Karuturi Networks considers stock split

Karuturi Networks Ltd has informed that a meeting of the Board of Directors of the Company will be held on January 30, 2008, inter alia, to consider the following business:

1. To take on record the financial results of the Company for the quarter ended December 31, 2007.

2. To consider stock split.

3. To enhance Borrowing powers of the Board.

4. Hiving off business operation into wholly owned subsidiaries.

5. Dropping the phrase "Networks" from Karuturi Networks Ltd.

6. Appointment of Additional Director's.

Karuturi Networks completes acquisition

Karuturi Networks Ltd has informed that the Company on October 19, 2007 has completed all formalities leading lending to acquisition of infrastructure and management control of Sher Agencies Ltd, Kenya.

With this acquisition, the Company has emerged as the worlds largest producer and exporter of roses. Karuturi Roses are available in Africa, USA. Europe, Middle East, Far East Asia, Australia and New Zealand. This acquisition renders the Company as the truly Multi National and fully integrated Company in India in the field of agriculture.

Mr. Sai Ramakrishna Karuturi and Mr. Srinivas Rao Karuturi are appointed as the Directors of Sher Agencies Ltd, Kenya after the existing directors of the Company stepped down following the acquisition. The new Board of Directors have proposed to rename the Company as Sher Karuturi Ltd.

Karuturi raises $50 million

Karuturi Networks Ltd has informed that the Company has successfully raised US$ 50 Million by issuing Foreign Currency Convertible Bonds to foreign institutions investors. The issue has received overwhelming response from the investors and was oversubscribed.

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

"Karuturi Networks Ltd announces the successful issuance of USD 50,000,000 zero coupon unsecured foreign currency convertible bonds. The bonds have a maturity of 5 years and are convertible at a price of Rs 290 which represents a premium of 30% over the current market price.

Silverdale services Ltd, London, was the sole lead manager for the offering and Axis Bank Ltd was the India advisor to the issue.

Mr. Sai Ramakrishna Karutri, Managing Director of the Company said, "This issuance affirms the confidence of global Investors in the strength of our agri products based business model. They have appreciated the intrinsic cost advantages and superlative growth trajectory of our Company".

Karuturi Networks Limited

Mrs. Anitha Karuturi, Director has bought 5296 shares (0.5%) of the Equity on Aug 17 2007