Broadcast Initiatives IPO Basis of Allotment

B. Allocation to Non Institutional Investors
The category was subscribed 3.23 times. The total number of shares allocated in this category is 12,69,407 Equity Shares (Including 1,920 Shares spill over from Employee Category). The details of basis of allocation of some of the categories are as under: (Sample)

C) Allocation to Employees
The category was subscribed 0.872 times. The total number of shares allocated in this category is 87,200 Equity Shares. The Un-subscribed Portion of 12,800 Shares was added to the QIB (6,400 Shares), Non Institutional Investors (1,920 Shares) and Retail category 4,480 Shares) in the ratio of 50:15:35. The details of basis of allocation of some of the categories are as under: (Sample)

D) Allocation to QIBs
As per SEBI guidelines, mutual funds were to be initially allocated 5% of the quantum of shares available (i.e. 2,11,250 equity shares) but, as there were no Mutual Funds applicants the reserved portion for Mutual Funds was added back to the QIB category. The category was subscribed 1.48 times. The total number of shares allocated in this category is 42,31,400 Equity Shares (Including 6,400 Shares spill over from Employee Category).

The Board of Directors of the Company at its Meeting held at Mumbai on February 27, 2007 has approved the basis of allocation of shares and allocated the shares to various successful applicants.

The physical refund warrant, information regarding refunds through electronic modes (ECS, RTGS, NEFT or Direct credit) and allotment advice have been dispatched to the address of the investors as registered with the depository on February 28, 2007. In case the same is not received within ten (10) days, investors may contact the Registrar to the Issue at the address given below.

The equity shares allotted to successful applicants have been credited to their beneficiary accounts subject to validation of the account details with the depositories concerned on February 28, 2007.

The listing application has been filed with The Bombay Stock Exchange Limited and National Stock Exchange of India Limited on February 28,2007 and the Company is taking steps to complete all formalities for listing and commencement of trading of equity shares on the Bombay Stock Exchange Limited and National Stock Exchange of India Limited within Seven working days of finalization of Basis of Allotment.

INVESTORS PLEASE NOTE
These details of the allocation made would be hosted on the website of the Registrar to the Issue, Intlme Spectrum Registry Limited at www.intimespectrum.com
All future correspondence in this regard may kindly be addressed to the Registrar to the issue quoting full name of the First/ Sole applicant, Serial number of the bid-cum-application form, number of shares bid for, name of the Member of the Syndicate and Place where the bid was submitted and payment details at the address given below:

Intime Spectrum Registry Limited
C-13, Pannalal Silk Mills Compound, L.B.S. Marg, Bhandup (West), Mumbai- 400078,
^Fax: +91-22-25960329, Tel. No.: (91 22) 2596 0320 - 28;
Email: janmat.ipo@intimespectrum.com,Website: www.intimespectrum.com
Contact Person: Mr.Salim Shaikh

This communication is intended for release solely in India. This communication is not an offer of securities for sale in any other jurisdiction, including the United States. The securities may not be offered or sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933.

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF BROADCAST INITIATIVES LIMITED