Mytrah Energy Ltd : Proposed Business Trust Listing

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This announcement shall not, and shall not intend to, constitute an offer to sell or an invitation or solicitation of an offer to buy or subscribe for any securities in the United States or any other jurisdiction.  The securities referred to in this announcement have not been and will not be registered under the United States Securities Act of 1933, as amended ("the Securities Act"), or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.  Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer and that will contain detailed information about the company and management, as well as financial statements.

4 April 2013

Mytrah Energy Limited ("Mytrah Energy" or the "Company")

Proposed Business Trust Listing on the Singapore Exchange

Mytrah Energy is pleased to announce that it is evaluating a potential initial public offering and listing ("Proposed Listing") of its wind-power assets as a business trust ("Business Trust") on the Singapore Exchange Securities Trading Limited ("SGX-ST").

Mytrah Energy is working with financial, legal and other advisors in evaluating the feasibility, optimal structure and timing for the Proposed Listing.  The Proposed Listing will be subject to, inter alia, regulatory approvals and market conditions.

The Business Trust would acquire assets from Mytrah Energy as part of the Proposed Listing.  Mytrah Energy currently has 309.9 MW of operational assets and, as previously announced, has plans to increase this to over 600 MW following the completion of the Company's development pipeline for 2013, and to over 1,200 MW by the end of 2014.  The portfolio to be acquired by the Business Trust is being evaluated and it is currently envisaged that Mytrah Energy would maintain a significant ownership stake in the Business Trust.  The Company's admission to trading on AIM would be unaffected.

Should the Proposed Listing proceed and be completed as planned, the proceeds raised are expected to be used to pay down all or a substantial part of the senior and mezzanine debt of the Company's subsidiary companies in India and to enable the continued rollout of the Company's pipeline, with the target of developing, in aggregate, 1,500 MW of operational assets during 2015.

Mytrah Energy's overall model is based on building its Indian assets at the most competitive price whilst minimising the development risk, to generate significant value for shareholders.  With this in mind, the stable and predictable nature of the long-term income streams expected to be produced from its significant portfolio of current and near term operational assets have enabled the Company to explore options for the refinancing of the current relatively expensive project based debt with lower cost debt or yield-based equity.  The Directors of Mytrah Energy (the "Directors") believe that the Proposed Listing would optimise the cost of the Company's debt and equity, thus enhancing the underlying value of its assets.

Along with evaluating the Proposed Listing, the Directors continue to explore other options such as the securitisation of revenue streams from the Company's portfolio.  Whilst there can be no certainty that the Proposed Listing or other form of securitisation will proceed, the Directors look forward to providing further updates to shareholders as Mytrah Energy progresses down these routes during the course of this year.

For further information please visit www.mytrah.com or contact:

Mytrah Energy Limited

Ravi Kailas / Alastair Cade                                         +91 40 3376 0102

Strand Hanson Limited

James Harris / Richard Tulloch / Angela Hallett         +44 (0)20 7409 3494

Investec Bank plc

Chris Sim / Jeremy Ellis                                             +44 (0)20 7597 5970

Mirabaud Securities LLP

Peter Krens / Rory Scott                                            +44 (0)20 7878 3360

St Brides Media & Finance Limited

Elisabeth Cowell / Frank Buhagiar                             +44 (0)20 7236 1177