JM Financial India Fund to invest Rs. 72 cr in PreMedia Global

Mumbai, January 21, 2008: JM Financial India Fund, a US$ 225 million corporate private equity fund, sponsored by JM Financial Limited and Old Lane Partners LP, will invest Rs. 72 crore in PreMedia Global, a leading Knowledge Process Outsourcing company specialising in the publishing field with a presence in India and the United States.

PreMedia Global provides its clients with content services for books and journals, focusing on US schools and colleges. The company has developed a full-service model providing a range of services from content development to content production, with integrated on-shore and off-shore services. The company’s customers include leading international publishing and media houses such as Thomson, Houghton-Mifflin and Pearson. PreMedia Global has approximately 500 employees located across two facilities in USA and one facility in Chennai.

The investment by JM Financial India Fund will be used by PreMedia Global to pursue growth opportunities, both, organically and through acquisitions in the US and other international markets.

Announcing the investment, Mr. Dilip Kothari, the founding Managing Director of JM Financial Investment Managers Limited, said, "We are delighted to partner with PreMedia Global. We believe that the company is well positioned to expand its clientele through acquisitions in the US as well as strengthen its operating presence in India. The company has already demonstrated its ability to successfully acquire and integrate companies in the past and has the potential to complete further overseas acquisitions in the next few months."

Mr. Kapil Viswanathan, Co-CEO of PreMedia said, "As we are growing through a period of steady growth, we look forward to working with JM Financial by leveraging the group’s expertise and relationships to help source and close acquisitions in the domestic and international markets."