Tulip Telecom announces completion of CDR; signing of

Master Restructuring Agreement (MRA)

• 12 year door-to-door repayment pian

• Interest rates reduced

• 1.5 year moratorium on Interest and 2.5 year moratorium on Principal

Repayments

• Promoters' infusion of approximately Rs 60 crores under CDR

requirement completed.

New Delhi, lst August, 2013 - Tulip Telecom, Jndia's leading Enterpr ise Data Services provider, today announced the implementation of its CDR package with signing ofthe Master Restructuring Agreement (MRA).
Tu l i p fil ed far restructuring of its debt in Dee 2012, under India's CDR mechanism and had subsequently got fina! approvai from the CDR. The package covers 12 year door-to-door repayment pian; reduction in interest rates by approximately two and half percent; one and half year moratorium on interest and two and half year moratorium on principal.

Speaking of the development, Lt Col H S Bedi Chairman and Managing Director, Tu/ip Telecom Ltd said "We are pleased to report the implementation of CDR process today and would like to extend our gratitude to our lenders for their confidence in the company and the viability of our business. The complete implementation of the CDR package in a relatively short lime is a testimony to the strength of our business and our capability to secure leadership position as an Enterprise Data Connectivity provider."

"The rapid process of past severa! months- including forma! approva! of the CDR in just over 3 months, signing of MRA, would not have been possible without the suppor! of our lenders, and al! other stakeholder in this critica! phase."

About Tulip Telecom Ltd:

Tu lip Telecom Ltd. (BSE: 532691/NSE: TULIP) is India's leading Enterprise Communications Service provider. The Company's data network has the largest reach of over 2,000 locations globall y. The Company has a global presence with over 4,000 employees and more than 2,700 customers. Tulip designs, implements and manages communication networks of large enterprises on long term contracts to include enterprise communications connectivity, network integration, managed services and Data Centers. Through its subsidiary, it also owns the world's third largest data centre.

To know more about Tulip Telecom visit our website www . tulip . netor join us on

Twitterand Linkedln.

PRESS RELEASE For further information, please contact:

Saumya Roy

Tu li p Te l ecom Ltd. saumya . roy@tulip . net

+91 9958334612

Rupali Kathuria

Genesis Burson-Marsteller

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