Introduction:

Let me now briefly describe to you the Reliance Anil Dhirubhai Ambani Group, of which we are
the flagship company.

Barely two years in the making, our Group now ranks among India's top 3 business houses.

We have a strong presence across a wide array of high-growth consumer-facing businesses -

from telecom and financial services to energy and power, from media and entertainment to
healthcare.

Across different companies, we touch the lives of over 100 million customers, or over 1 in every
10 young and aspiring Indians every single day.

Our group enjoys the unparalleled trust and confidence of nearly 7 million shareowners - the
largest such family in India, perhaps even in the world.

We have a Group market capitalization of over Rs 1,68,500 crore (US$42.1 billion), having
added over Rs. 1,53,500 crore (US$38.3 billion) or over Rs. 300 crore of shareholder wealth
creation every single working day over the past two years.

Our group net worth is in excess of Rs. 40,000 crore.

Our cash flows across the Group are approximately Rs. 9,000 crore and net profit is over Rs.
5,000 crore.

We have zero net debt at the group level.

Our current Group net worth and debt structure gives us the capacity to borrow, on a
conservative basis, over Rs. 1,00,000 crore.

But scale and size, however important, only constitutes

a small part of who we are.
Our ambition is not just to be Bigger but to be Better.
To aim for not just quantity but quality,
To aspire for not just enterprise but excellence

We wish to make a difference

not just to the lives of our millions of stakeholders
but to the lives of over 1.1 billion fellow Indians

2introduction:

Reliance Communications is India's largest integrated and fully converged communications

service provider with over 35 million individual, enterprise and carrier customers in India and
across the world.
Our pan-Indian operations span the full spectrum of wireless, wireline, long distance, voice, data,
video and internet communication services.

We offer a comprehensive international portfolio through a submarine cable network that spans 4
continents and 40 countries.

Our domestic wireless network currently covers more than 10,000 towns and 300,000 villages
across the country, providing coverage to over 60 per cent of India's population.

We have more than 500,000 commercial, retail and residential buildings directly connected to
our intra-city fiber optic network.

We operate the largest, next generation long distance network in the country, comprising
1,00,000 route kilometers of optic fiber cables that provides the most comprehensive inter-city
connectivity.

The domestic network is seamlessly connected to our 65,000 route kms of global network
operated by FLAG Telecom, our wholly owned subsidiary.

Across land and sea, our network runs to an unprecedented 1,65,000 route kilometers, or 15
times the distance between Mumbai and New York.

We can complete a call originating on a cruise ship in Alaska and terminating in a remote hamlet
in Agartala, without once leaving our network.

In the current fiscal year, we will spend over Rs 16,000 crore to further expand and strengthen
our network coverage, across India and rest of the world.

In addition to quality and reach of coverage, we have invested in a number of key assets to
further support our relationship with our 35 million customers -

 We operate the largest, most extensive retail distribution network in the country, with
2,000 distributor partners and over 500,000 retail outlets.
 The backbone of our retail presence is constituted by over 1,650 Reliance World stores
across 700 Indian cities. Along with our partners, we have a branded retail presence in
over 1,300 towns
 We are one of the biggest retailers of handsets, and consumer electronics, in India. A
large share of our sale comes from our own in-house Classic brand of handsets, India's
second largest selling brand.
 We have Internet data centre capacity that runs into over 200,000 square feet across
multiple locations, which is being further expanded even as I speak
 Our Java-based R-World suite, which is available on most Reliance phones, offers to our
wireless subscribers the most comprehensive range of service applications for any
operator in the country - from knowledge and information, to entertainment and
commerce.
We live in the era of convergence -- a time when technology is re-defining the scope and limits
of the traditional telecom business.

Today telecom is no longer only about voice or data; it is about communication in the widest
possible sense of the term. News and Information, Entertainment and Gaming, Surfing and
Commerce

Given the wider business interests of our Group, this provides us with a unique platform for
growth.

We are not just a mobility player, but a fully converged and fully integrated communications
company, with a presence across the entire expanding value chain of telecom, new media and
entertainment.

Our IP-enabled future-proof Next Generation Network puts us at the cutting edge of technology
and gives us a huge competitive advantage over our peers.

Across the industry, our company is now widely acknowledged for its thought leadership and
innovations

In 2003, the launch of our nation-wide wireless services, caused a paradigm shift in mobile call
rates, bringing down call rates per minute by as much as 95 per cent.

Since then, we have set the industry benchmarks in every sphere - from technology to tariffing,
creating value for our millions of customers..

Over the past year, we have pioneered every significant market initiative: From the "One India,
One Tariff" plan which allowed millions to connect all across India at just one rupee a minute to
leadership in bundled handset and talk time offerings, from micro prepaid recharge vouchers at
under Rs 100, to lifetime validity, from affordable tariffs in roaming to affordable connectivity in
rural India.

Earlier this year, we broke the one-thousand-rupee price barrier on handsets, by introducing our
lowest-cost Classic brand handset at Rs 777.

Each of our initiatives has been echoed by similar offers from our peers and competitors - in
clear recognition of our leadership position.

What Reliance Communications does today, the industry does tomorrow - and the ordinary
Indian consumer is the biggest beneficiary