Special situation announcements 27th Aug 2008

27 August 2008

Subject:	R Systems International Board to consider Buy-back of equity shares
Announcement:	R Systems International Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on September 04, 2008, inter alia, to consider and approve the proposal for Buy-back of equity shares of the Company.

R Systems International Limited (R Systems) is an off-shore-based software product development information technology (IT) services company, which focuses on organizations that build scaleable, configurable, secure software products for both businesses and consumers. R Systems is a provider of outsourced and offshore product development services. These are offered as Integrated Product Lifecycle Management (iPLM) services supported by its pSuite Framework. The Company's domains include banking and finance, high technology and Internet services, manufacturing and logistics companies, and public sector. The pSuite Framework consists of practices, tools and methodologies for execution and delivery of software. iPLM services are designed for software companies and service providers across the product lifecycle from inception to maturity. In January 2008, the Company acquired Sento Europe B.V. and Sento S.A.S., which became wholly owned subsidiaries of the Company.

http://www.rsystems.com/

27 August 2008

Subject:	PVP Ventures - Updates
Announcement:	PVP Ventures Ltd has informed BSE that AGS Hotels & Resorts Pvt Ltd, a wholly owned subsidiary of the Company, has sold its Hotel "Hotel Ooty Villa Park" situated at Ooty, as a going concern on an as-is-where-is basis, along with land and various superstructures, buildings and constructions thereupon, including other movable and immovable properties and rights, licenses, approvals, trademarks etc. to M/s. Mahindra Holiday & Resorts India Ltd, a group Company of Mahindra & Mahindra. PVP as a Group is focusing mainly on urban infrastructure including real estate and energy and hotel and resort business do not fit in the core business model. Accordingly, the management had decided to exit from the Hotel.

PVP Ventures Limited, formerly SSI Limited, is a global provider of consulting, software services, and information technology (IT) training solutions. During the year ended September 30, 2007, the Company focused into consolidation of its land bank and real estate assets. The Company is engaged in asset-based businesses. In 2007, the Company had three subsidiaries: AGS Holdings Private Limited (AGPL), AGS Hotels & Resorts Private Limited (AHRPL) and Telephoto Entertainments Limited (TEL). AGPL owns commercial properties at Vadapalani and Chetpet, which have been leased out to Tata Consultancy Services Limited and Tech Mahindra Limited, respectively. AHRPL owns Ooty Villa Park Hotel at Ooty. TEL is engaged in entertainment business. As of September 30, 2007, PVP Enterprises Private Limited, Hyderabad held 61.25% interest in the Company.