Cost of Acquisition
27/01/2008

Dear Shareholder,

Cost of acquisition of the Equity Shares pursuant to the approved Scheme of Arrangement

The shareholders of the Company has requested for the bifurcation of the cost of acquisition of the shares of M/s Silverline Technologies Limited post the Scheme of Arrangement as sanctioned by the order of the Honourable High Court Bombay dated 26th October 2007.

The cost of acquisition of the Equity Shares of M/s Sivlerline Technologies Limited held on or prior to the record date (20th November 2007) shall be apportioned only to the Equity Shares allotted as per the Scheme of Arrangement to M/s Silverline Technologies Limited. Accordingly the cost of acquisition of Equity Shares allotted post the Scheme of Arrangement in M/s Silverline Animation Technologies Limited has been determined to be Rs. NIL.

This is issued to help in the computation of income tax.

Venkatraghavan V,
VP Fin & Corp.

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