PENTACOMMU

Members of the Exchange are hereby informed that trading in the equity shares of Pentasoft Technologies Limited will be suspended w.e.f. September 13, 2006 (i.e. w.e.f. closing hours of trading on September 12, 2006) as the company has failed to respond / satisfactorily respond to the notice of the Exchange for non-compliance with provisions of listing agreement and / or non-submission of secretarial audit report.

Private Limited being 49% of the equity capital while the balance 51% of the equity was held by Computer Associates of USA. The day to day management of the Company was run by M/s Computer Associates of USA as the major activity of the Company has been to market the Software products developed by Computer Associates. As the Company was making continuous losses, we approached Computer Associates to buy out our share in the Joint Venture as this investment has not benefitted the Company as expected. Computer Associates then accepted to buy our shareholding subject to appropriate Government an

Though they have obtained FIPB clearance for buying out our share, the Reserve Bank of India's clearance is awaited. The sale will take place only on receiving the final clearance from the Reserve Bank. We also wish to inform that the investment is only Rs. 1.03 crores and was made only as on investment in Joint Venture Company. Also we will intimate the stock exchanges only when the sale is complete with proper approvals from all concerned Governmental and other agencies."

The press had reports on January 09, 2003 that ACCPAC International which holds a 51% stake in ACCPAC India will acquire the balance 49% from its joint venture partner, Pentasoft Technologies. The Exchange in order to verify the accuracy or otherwise of the information reported in the press and to inform the market place so that the interest of the investors is safeguarded had written to the officials of the company. Pentasoft Technologies Limited has vide its letter inter-alia stated, "We had invested Rs. 1.03 crores in June, 2000 in Simplysoft Technologies Private Limited (name subsequentl