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History of Accel Frontline Ltd.

The Accel group commenced operations with Accel Limited, which was incorporated in 1991. Accel Limited became a public limited Comp. & changed its name to Accel Automation Limited in July 1997. Accel Limited was involved in the business of third party maintenance services for IT products. In December 1993, Accel Limited acquired the PC manufacturing facilities of Kothari Information Systems Limited, Bangalore & shifted operations in 1996 to Pondicherry. Accel Limited acquired Atreya Technologies & Industrial Development Private Limited, Delhi & the services business of Network Limited, Delhi in June 1996 & April 1997, respectively, to benefit from their service networks in relation to telecom/IT equipment. In 1997, we tied up with a leading international mobile phone manufacturer to be its exclusive national service partner in India.

Our Comp. was incorporated in the State of Tamil Nadu on June 08, 1995 in the name of Accel Computers Limited as a public limited company. The Registration No. U30006TN1995PLC031736 was assigned to our Company. We obtained our Certificate of Commencement of Business on June 22, 1995. The name of our Comp. was changed to Accel ICIM Systems and Services Limited pursuant to the acquisition of systems & engineering services [SESs] business of Fujitsu ICIM Limited & we received a fresh Certificate of Incorporation dated October 21, 1999. Subsequently, the name of our Comp. was changed to Accel ICIM Frontline Limited, as part of strategic equity investment made by Frontline in order to leverage Frontline name in its business operations in India & abroad & we obtained a fresh certificate of incorporation dated August 27, 2004. The name of our Comp. was again changed to Accel Frontline Limited, as under the name license agreement dated October 11, 1999 between Fujitsu ICIM Limited, Accel Limited & our Company, the name `ICIM' could be used solely for SES business & not in relation to other IT businesses undertaken by our Company. We obtained a fresh certificate of incorporation dated November 3, 2005. The registered office of our Comp. was shifted from SFI Complex, No.179 Valluvarkottam High Road, Nungambakkam, Chennai 600 034 to III Floor, No. 124, Nelson Manickam Road, Aminjikarai, Chennai 600 029 on April 3, 2000.

We commenced operations in 1995 & in 1996 established a manufacturing facility for computer systems, in our factory at Pondicherry. In 1997, we diversified our operations by starting a software development unit in Chennai to offer software solutions for domestic enterprises. In order to expand its operations nationally, our Comp. acquired the systems & engineering services business of Fijitsu ICIM Limited with effect from January 1, 1999. As part of an internal consolidation exercise in fiscal 2000, we acquired the computer services operations from our holding company, Accel Limited to create a system integration Comp. with operations in hardware, software & services. In June 2001 in order to meet our business expansion plan, our Comp. received strategic venture capital funding from ICICI Venture Fund Managment Comp. Limited through certain funds managed by them & from Intel. In July 2003, we acquired the banking software solutions business from TVS E Technology Limited, Chennai. In 2003, we started a separate business processing unit to provide warranty outsourced services & acquired the mobile phone warranty services buniness of Accel Limited. In October 2003, our Comp. took over the software development unit of Trinity Infosys India Private Limited which was specializing in SMS services & other wireless applications. We also expanded our software business in the Asia Pacific regions by incorporating two wholly owned subsidiaries in Singapore & Dubai. With the growth in the IT services industry & infrastructure services, the sector has seen an influx of many players. We face competition from the large MNC players as well as regional / local players in various geographies, including the unorganized sector players. In order to further strengthen our technology & business operations in the Asia Pacific region, our Comp. entered into a strategic partnership with Singapore based Frontline Technologies Corporation Limited [Frontlines]. Frontline is a public limited Comp. listed on the Singapore Stock Exchange & having operations in seven countries in the Far East region including China, Malaysia, Thailand, Hong Kong, Taiwan, Phillipines & Singapore. As on the date of filing this Red Herring Prospectus, Frontline Technologies Corporation Limited, is the single largest shareholder in our Company. For more details on Frontline Technologies Corporation Limited, please refer to the section titled Promoters' beginning on page 98 of this Red Herring Prospectus.

For a brief overview on our financial statements for last five years, please refer to the section titled 'Selected Financial Information' beginning on page 7 of this Red Herring Prospectus.

History & Major Events

March 1991: Accel group commenced operations

January 1999: Acquired the systems & engineering services division of Fujitsu ICIM Limited

April 1999: Acquired the systems & services division of Accel Limited January 2000: Certified ISO 9001:2000 for its manufacturing facility in Pondicherry April 2000 Wholly owned subsidiary set up in Singapore May 2001 Commenced operations in Sharjah June 2001 ICICI Venture & Intel invested in our Company April 2001 Enterprise Software Solutions formed as a strategic business unit Nove 2001 Bonus issue to shareholders on record date on a 1:1 basis October 2002 Wholly owned subsidiary set up in Dubai July 2003 Acquired the banking software solutions division of TVS E Technologies Limited August 2003 Certified ISO 9001:2000 for IT infrastructure management services October 2003 Acquired the mobile phone warranty outsourced service business from Accel Limited February 2004: Acquired SMS & wireless application software services business of Trinity Infosys India Private Limited June 2004 : Frontline became a strategic partner with equity investment March 2005 : Certified CMMI Maturity Level 5 [optimisings] for software engineering

2008

- Accel Frontline Limited has informed that Ms. Sweena Nair has been appointed as Comp. Secretary with effect from 2nd January, 2008. Ms. Sweena Nair shall be the new Compliance Officer of Comp. with effect from 2nd January 2008.