Board has decided to transfer its Knowledge Services Business, which includes theResearch & Development Centre at Bangalore, as a going concern to Advinus Therapeutics w.e.f. April 01, 2005. The proposed Transfer will be for a consideration of Rs.26 crores, as per the valuation done by Ernst & Young. This valuation has been accepted by the Board. The transfer will be subject to the approval of the shareholders of the Company by a postal ballot & such other statutory approvals as may be necessary under the applicable law. The Company will have a strategic equity stake in the new Company.