SUBEX

Subex Limited has informed the Exchange regarding the copy of the order of the Hon'ble High Court of Karnataka approving the Scheme of Arrangement providing inter alia, for the transfer of the Services Business of the company to Subex Technologies Limited, a wholly owned subsidiary.

Subex Azure Limited has informed the Exchange that "Pursuant to the order of the Hon'ble High Court of Karnataka dated 20th December 2007, in connection with the proposed Scheme of Arrangement for transferring the services business of the Company to Subex Technologies Limited, a wholly owned subsidiary of the Company, a Meeting of the Equity Shareholders, Unsecured Creditors and Secured Creditors of the Company will be held on 28th January 2008 at the registered office of the company for considering the said Scheme of Arrangement".

Subex Azure Limited has informed the Exchange that "The company has made an application under Section 391 to Section 395 of the Companies Act, 1956 with the Hon'ble High court of Karnataka wherein the Services Division of the Company is being transferred to Subex Technologies Limited, a wholly owned subsidiary of the company".

Subex Azure Limited has informed the Exchange that the Board of Directors at their meeting held on July 26, 2007 has decided, inter alia, the following: 1) Subject to the approval of the Hon'ble High Court of Karnataka and other statutory approvals, hiving off the services business from Subex Azure Limited, the parent company to Subex Technologies Limited, its wholly owned subsidiary through a Scheme of Arrangement".

Subex Systems Limited has informed the Exchange that Mr. Alex P J, Executive Director has sold 12,00,000 shares. Further, he has submitted his resignation from the position of Executive Director and the same will be considered by the BODs.

Subex Systems Limited has informed the Exchange that Mr. Alex P J has further sold 1,00,000 shares and his subsequent shareholding as on February 09, 2005 is 2,00,000 shares (2.15%) of the Company.