Bharti Telesoft & ITNTI Introduce mCommerce to the Himalayan Kingdom of Nepal

Signs mobiquity mCommerce Deals with Himalayan Bank and Nepal Telecom

Delhi, India, March 24, 2007 --( Bharti Telesoft, a leading global supplier of mCommerce and VAS products and services, and its partner ITNTI, a leading Internet applications and software company in Nepal, have signed deals with Himalayan Bank and Nepal Telecom to introduce mobile top-ups and mobile financial solutions to the country. This will be a first for Nepal, where mCommerce is a new, and much-anticipated domain.

With this deal, Bharti Telesoft will be helping Nepal Telecom to provide an array of mCommerce solutions and services to approximately one million subscribers. To access services, subscribers will receive a SIM card and a stored wallet cash card. These allow subscribers to carry out P2P transfers, top-up their mobile accounts, and provide subscribers with a ready to transact bank account.

According to Sugat Kansakar, MD, Nepal Telecom, “The solution is unique for the Nepalese telecom industry and is certainly going to redefine the mobile experience for our subscribers. The solution will reduce our operational costs - especially distributor and retailer margins, and inventory and printing costs, for prepaid cards. And we can offer a wide range of top-up denominations at no additional cost. We are also expecting to generate significant revenues when people start using their phones for various mCommerce activities.”

“This is a very positive development for mCommerce in Nepal, where the mobile subscriber to cash-card holder ratio is approximately 5:1. The opportunity for the growth of mCommerce in Nepal is enormous and we are looking forward to making this a great success,” explained Ashish Desai, Business Head, mCommerce at Bharti Telesoft.

Manish Kansal, Sr. Vice President of ITNTI, commented: “We are excited about our alliance with Bharti Telesoft and strengthening our services proposition in the market and believe there is great business potential in empowering mobile phones for mCommerce. I am sure that this new development will excite Nepalese subscribers, who are enormously enthusiastic about innovations in the mobile space."

“We look forward to capitalizing on the operator’s substantial subscriber base in order to help mCommerce flourish in Nepal. This deal makes us the only Nepalese bank to provide mobile financial solutions in Nepal. The potential is huge and we are glad to be with Bharti Telesoft to tap the market here,” remarked Ashoke SJB Rana, CEO, Himalayan Bank.

The timeframe for implementation is April 2007, with services scheduled to be launched in May 2007.

Additional Information

About Nepal Telecom
Nepal Telecom is the leading and the largest telecommunication company of Nepal. A former government monopoly, it was converted into a Public Limited Company on April 14, 2004. Nepal Telecom is present in over 180 locations across the country, and with close to 5,000 employees, it is one of the largest corporations in Nepal. Nepal Telecom is the sole provider of PSTN, ISDN and leased line services in Nepal and has a total of 190 telephone exchanges. As of January 2006, Nepal Telecom had almost 300,000 GSM subscribers.

About Bharti Telesoft
Bharti Telesoft enables wireless and wireline carriers to unlock the revenue potential of their networks by delivering best-in-class, Content, Mobile Commerce, VAS and BSS solutions. Bharti Telesoft’s flexible, carrier-grade applications span key areas of an operator’s business: Content Based Services, VAS, such as Messaging, Call Management, and Roaming, and BSS, such as Prepaid, Provisioning and Customer Care, and Billing solutions. Bharti Telesoft has extensive, proven experience in deploying solutions in over 50 countries, on 100+ networks, serving 150 million global subscribers.

About Himalayan Bank
Established in 1993 in a joint venture with Habib Bank Limited (Pakistan), Himalayan Bank (HBL) is a leading Nepalese bank providing primary banking services in the form of loans and deposits. Products such as Premium Savings Account, HBL Proprietary Card and Millionaire Deposit Scheme, as well as services such as ATMs and tele-banking were first introduced by HBL. With the highest deposit base and loan portfolio amongst private sector banks, HBL is leading the banking sector of Nepal. In addition to commercial banking services, the HBL also offers industrial and merchant banking services.

ITNTI was established in the year 2000, and is a leading Internet applications and software company in Nepal. ITNTI was created with the aim of exporting services and today ITNTI has built a customer base reaching across 5 continents. Including various firsts to its credit, ITNTI was also the first private company in Nepal to enter into mobile services business in 2003.

Media Contacts

Andrea Stone
Head - Marketing Communications and Sales Support
Bharti Telesoft Ltd.
F-13, Okhla Phase 1
New Delhi - 110020
Switchboard: +91 (0) 11 4161 1666 (Ext. 206)
Mobile: +91 98 1865 0410
Fax: +91 (0) 11 4161 1777

Shivang Mehta
PR and Corporate Communications
Bharti Telesoft Ltd.
F-13, Okhla Phase 1
New Delhi - 110020
Switchboard: +91 (0) 11 4161 1666 (Ext. 377)
Mobile: +91 98 7138 4780
Fax: +91 (0) 11 4161 1777

Bharti Telesoft
Shivang Mehta
+91 9871384780