rea of Operation

The Group presently have many ongoing projects in hand, which are been managed through various
associate companies of the group.

» International Amusement Ltd.

International Amusement Limited (IAL) was incorporated on 15th September 1984, with the primarily object
to conceptualize and set up India's first Amusement Park "Appu Ghar", which was inaugurated on 19th
November 1984. Spread over 15.5 acres of land, it houses 20 rides for in its premises. IAL is a total debt
free company and the entire equity is closely held by the promoters. As part of the expansion cum
diversification programme, "Appu Ghar" had opened Snow and Ice games and Water Parks - "Oysters" in
1998, which is spread over 3.5 acres of land.

International Amusements Limited has initiated two State-of-the-Art projects in the entertainment industry
in joint venture with Unitech Ltd. Two SPV's have been formed to carry out the implementation of the
projects, International Recreation Parks Pvt. Ltd (IRPPL) and Unitech Amusement parks Ltd (UAPL). The
joint venture companies hold 50: 50 share in both the SPV's. While Rohini Project (Unitech Amusement
Parks Ltd.) is already operational, the second projects i.e. 'e-City' Noida will be operational by the end of
this quarter, being built in collaboration with world renounced consultants. Besides these being two major
investment projects for the company, IAL is also providing consultancy to both these SPV'S in Theme Park
Development area, complementing its niche gained over the years of successful running of 'Appu Ghar'.

» International Recreation Parks Private Ltd.

I.R.P.P.L. - promoters of e-City in Noida: International Recreation Parks Pvt. Ltd. (IRPPL) is the 50-50 joint
venture between International Amusement Limited & Unitech Holdings Ltd.

The project 'e-City' is spread over approx. 147 acres of area in the prime location in Noida and comprises of
Theme Amusement Park (World of Wonders & Arrival Village having different entertainment zones viz., Teen
Zone, Children Zone and Family Zone), Water Park with theme as "Calypso Beach" & Shopping Malls, a
Multiplex, Hotels and Food Courts.

The project envisages construction of commercial area in which it will develop shopping malls, multiplex,
food courts and hotels. The complex will cover total area of about 1.50 million sq ft to begin-with and will
have two components at present:

 The Great India Place

 Gardens Galleria

The mall 'The Great India Place' covering almost 1 million sq ft will be the largest mall in North India.

Noida e-City designed by the World leaders : First in India to have all imported rides from world leaders
likes of Zamperlla, Moser Rides, Intamin, I.E. Parks, Whitewater etc. some of the rides are being launched
for the first time. e-city shall have attractions from leading Design Consultants of the World, viz., Forrec Ltd.
- Toronto, Bose International - USA, Callison- USA, Management Resources - California, F & B Consultant�
Cini-Little Inc. with an experience of 25 years of working with Disneyland, Lighting consultant - City Design
Group - USA etc.

IRPPL has entered into an agreement with Time Warner's 'Cartoon Network' channel to conceptualize the
Children's Zone of the park. Cartoon Network has attempted such a tie up for the first time in the world. The
cost of projects (currently under implementation) aggregates to around Rs.9690 Million.

» Unitech Amusement Parks Ltd.

U.A.P.L.: Unitech Amusement Parks Ltd. (UAPL) is the 50-50 joint venture between International
Amusement Limited & Unitech Ltd.
This company is in the process of construction and implementation of Theme Amusement cum
Entertainment Park and other commercial facilities 'Adventure Island' on approx. 62 acres of area in Rohini,
Delhi. The park is targeted mainly on the teenagers of north and west suburbs of Delhi that are thickly
populated areas. The park expected to open in November 2006, is strategically next to the Rithala Metro
station.

The retail space at Adventure Island is not built in a conventional mall style. Spread over 200,000 sq ft.,
Metro Walk has stores built on only ground and first floor on lines of the World famous 'City Walk' of
Universal Studios. The Metro Walk aims to create an environment that makes its visitors enthusiastic for
visiting the park. Stores at the metro walk will be up-market, exclusive iconic stores for example Provogue
Loungewear, Ray Ban, Tag Heuer etc.

Adventure Island shall have all imported rides from world leaders likes Zamperlla, Moser Rides, Intamin, I.E.
Parks, Whitewater etc. This project is also been designed by the world class consultants like Forrec, Oru
Bose, City Design, Dan Euser Water Architect, Management Resources etc.

UAPL has entered into an agreement with Time Warner's 'POGO' channel to conceptualize the Children's
Zone of the park. Adventure Island is about teenagers, thrill, adventure and style. Adventure Island and
POGO have the same target audience and their association is to mutually benefit both parties. The channel
has high aspiration value, which the Adventure Island has tried to bring to reality.

The main focus areas of the Group are:

 Amusement/Leisure - Involves construction and operation of Amusement Parks, Water Parks,

Family Entertainment Centers, Food Courts.

 Real Estate - Land development, Construction of Commercial centers, Resorts ultiplexes etc.
 Lifestyle Products -Association with Swiss Military Hanowa Watches,Switzerland, Wenger
Switzerland & Alpine Club of Switzerland
About the Company

» Company Background

The company was incorporated & registered under the Companies Act 1956 in year 1989 and the registered
office of the company is at 415, World Trade Centre, Babar Road, New Delhi. The company was initially
engaged in the business of manufacturing and dealing of all kinds of Computers, typewriters, electronic,
electric, electro-mechanical and other similar equipments used in the field of communication, office
equipment, instrumentation, process control, their components ,accessories, media, assembling and all
kinds of instruments and gadgets used for in connection with any of the aforesaid and render consultancy
services for software, repair, maintenance and application, programming and system studies and to operate
training centers in respect thereof.

Network Ltd. is a listed company and its shares are listed on one of the reputed & oldest stock exchanges of
India 'Bombay Stock Exchange' (BSE). The Share Capital of the company is INR120 Million
(US$2.66Million) and the Share-Premium of the company is INR212Million (US$ 4.71 Million) as on 31st of
March, 2006. The company is part of the prominent APPU GHAR GROUP, which is engaged in the
Entertainment/Amusement and Real Estate Development business.

The main promoters / directors are not only just businessmen; they are the Men with vision & passion to
upgrade the lifestyle of masses, with an ambition to provide the best lifestyle to people in India. This can
only be gauged by their individual achievements.

They have joined hands with a commitment to provide the best International quality lifestyle products to
elite class consumer in India, through their joint venture "NETWORK LIMITED"

» The Main Promoters/Directors are

Mr. Gian Vijeshwar

Mr. Gian Vijeshwar, a Swedish National of Indian origin, can be termed as the 'Father of Indian Amusement
Industry'. After working in Germany and Sweden, he returned to India in 1984, and formed International
Amusement Limited. He pioneered the concept of amusement park in India by setting up India�s first
Amusement Park 'Appu Ghar' with support of Late Prime Minister, Smt. Indira Gandhi.

Mr. Vijeshwar is also the Chairman of IAL. He is also the Chairman of UAPL and Director of IRPPL that are
building two world-class Entertainment Destinations at Noida and Rohini respectively.

Mr. Rakesh Babbar

Mr. Babbar joined the board as director before which he successfully ran his family business of electronics
distribution. Having more than 9 years of experience in the field of theme parks, his exposure is not only
limited to Delhi but extends to different locations in India. Mr. Babbar is also the Managing Director of IRPPL
and Director of UAPL, engaged in the development of Entertainment Destinations at Noida and Rohini
respectively.

Mr. Pankaj Shrimali

Mr. Pankaj Shrimali possesses over 22 years of corporate experience in the area of Finance, Accounts,
Secretarial, Corporate Management, Legal & Corporate Consultancy Services & Investment Banking. Prior to
joining IAL group, he has been associated with several leading corporates in India like Birla, Onida, and VLS
and has provided Corporate Consultancy & Investment Banking Services to companies like Liberty, Lakhani
Shoes, Nucleus Software, Relaxo, Mirza International & Apollo hospital Group to mention a few.

Mr Aman Sawhney(C.E.O.)

Has done his MBA from one of the top 20 business school in USA and has 15 years experience in the watch
industry. He is heading the retail wing of Network Ltd. A dynamic young entrepreneur who envisages the
growth of this new venture in premium mens lifestyle segment at 50 % per annum.

As part of its diversification strategy, the company has entered into agreement with the following "Swiss
lifestyle brands" & is the master franchisee for India.

1. "Alpine Club Of Switzerland" - premium mens lifestyle products (Including, Writing Instruments,
Accessories, Baggage & Garments).
2. "Swiss Military" - pemium mens life Style Products (Including Watches, Writing Instruments,
Accessories, Baggage & Garments).
3. "Wenger" � The Swiss Army Knife.
4. "Edelweiss" - Garments, Kids wear & Toys.
5. "Swiss Military - Hanowa" - Premium Wrist Watches(selling in 40 countries)

These brands would be sold under the 'SWISS JUNCTION' retail chain of stores. This would be the first
exclusive premium mens lifestyle retail chain in the country The group envisages opening 20 exclusive
outlets in the first year of operation and about 100 exclusive outlets in the next 4 years. These would
include both company run outlets and franchiseed outlets.

Besides separate SBU's would be set up across divisions that would take care of distributing watches ,
writing instruments , baggage , mens accessories and toys independently.

These brands have international market presence & reputation. These products have already been
introduced successfully in Switzerland, Australia, Korea & negotiations are ongoing in many other countries .
They carry an International Warranty.

In a span of just 6 months the company has so far opened 5 Swiss Junction exclusive retail outlets at the
following locations :-

 M-7, GK M Block Market, Part I, New Delhi

 The Great India Place, Sector 38A Noida (GF)
 Adventure Island, Metro Walk Mall, Rohini
 Rituwears, V3S Mall, Pitampura (400 sq ft shop in shop)
 Great India Place Sector 38A Noida (food court area)

Swiss Junction products are also available at :-

 1.DLF Golf & Country Club Gurgaon

 Amarsons, Connaught Place New delhi
 Lahore Pen House, Karol Bagh
 Sikka & Sons, Connaught Place
 Samay, Rajouri Garden
 Samay, Kamla Nagar
 Indo Watch Gallery, Lajpat Nagar
 Arun Watch Co Green park
 Mahindra Watch co, Lajpat Nagar
 Ganga Ram Watch Gallery, Preet Vihar

The company is almost in the final stages of finalizing exclusive locations for its outlets in Connaught Place,
Khan Market, Vasant Vihar & 17 sector Chandigarh. The company is envisaging opening 20 showrooms in
the current financial year. The company further plans to open 100 showrooms, shop in shop by 2009/2010
and also plans to operate at all duty free shops in next two years, at all International Airports in India and
arrange in-flight sales catering to the needs of the corporate sector.

A separate core team has also been set up mainly to tap the corporate market.
The lifestyle market is growing exponentially with innovative products being launched everyday. This is a
global trend and the Indian market is no different. Since the company's brand has been the frontrunner in
the lifestyle segment in the international markets, entering this segment with such a brand was a
contemplative move on part of the company to mark its presence in the domestic market.

» The Group/Promoter Profile

The founder promoter of the Group Mr. Gian Vijeshwar has more than three decades of experience in the
Amusement & Entertainment Industry. The park Appu Ghar is the ultimate example of his expertise, which
is successfully operational right from its opening in the year 1984. The brand Appu Ghar has such a recall
value that almost all the Amusement parks of the country are being referred by this name of "Appu Ghar".