S&P Emerging Markets Database Index Announcement: India – SSI Ltd. Demerger (Eff. 10/12/2004)

SSI Ltd. (EMDB Code 534749.1.1/ SEDOL 6152734), a constituent of the S&P/IFCG and S&P/IFCI India indices, is demerging its IT Services business and merging it with M/s. Scandent Network Private Ltd, Bangalore with the ex-date on October 12, 2004. Eligible shareholders of SSI Ltd will receive one share of the resulting company for every share held in SSI Ltd. For S&P/EMDB index calculation purposes, the demerger will be treated as a stock split on October 12 and the number of shares will return to the pre-distribution figure on October 13 via a negative new issue. S&P/EMDB will not add the resulting company to index coverage at this time.