Press Release 22 December 2011
Mytrah Energy Limited
("Mytrah Energy" or the "Company")
Interim Results for the six months ended 30 September 2011
Mytrah Energy Limited ("MEL" or "Mytrah"), (formerly Caparo Energy Limited), the India-based independent power producer ("IPP") today announces its consolidated results for the six month period ended 30 September 2011.
Financial and Operational Highlights: * Maiden revenue reported of USD 2.27 million (H110: USD nil) as our first commissioned projects became operational during the period. * Groups EBITDA* for the period amounted to USD 0.94 million (H110: loss of USD 0.44 million).

* For the period ended September 2011, the Group achieved profitability for its wholly owned subsidiary Mytrah Energy (India) Limited ("MEIL"), (formerly Caparo Energy (India) Limited), posting a net profit after tax of USD 0.55 million (H110: loss of USD 0.44 million).

At a consolidated level the Group recorded a loss from continuing operations of USD 0.70million (H110: loss of USD 0.44million). * 67.2 MW of fully operational wind power capacity was delivered ahead of schedule and is performing in line with our expectations. * 260 MW of orders were placed with Suzlon Energy Limited ("Suzlon") in August 2011, taking the total orders to 360 MW at the period end.

The senior debt financing for the majority of this commitment has been secured, and as noted in the post period end highlights, we are in discussions with lenders for the remaining senior debt funding of USD 72.60 million needed to fund the purchase orders placed during the period. * Drawn down USD 33.05 million of Compulsory Convertible Debentures ("CCDs") and the first tranche of Compulsory Convertible Preference Shares ("CCPSs") worth USD 39.08 million.

These were both drawn from the total mezzanine financing of US$111.50 million announced earlier in the period. * The management team was strengthened during the period with new hires announced in August 2011
Post Period End Highlights: * Drawn down USD 39.37 million, being the remaining second tranche of the CCPSs. * Appointed two new Non-Executive Directors, Peter Neville and Russell Walls, who joined the Board in November 2011. * The Group has agreed in principle a further USD 20.15 million of mezzanine financing in the form of subscription to CCDs with expected draw down in January 2012. * The Group has secured new senior loan funding of USD 120.92 million which is fully underwritten by Infrastructure Development Finance Corporation Limited ("IDFC").

* The Group is also in discussion with lenders to raise a further USD 72.60 million. * A further 143 MW of project sites are being planned with Suzlon and Gamesa Wind Turbines Private Limited ("Gamesa") as the suppliers. Once the purchase orders for these sites have been placed, and the financing obtained, the total purchase orders would grow to 500 MW, with a total of 11 projects, either commissioned or under construction. * The Groups strategy remains on track to achieving its goal of becoming a leading IPP in India, with 5 GW of wind power generating capacity targeted by 2017.
Ravi Kailas, Chairman and CEO said: "I am very pleased to report our first set of interim results that include turnover generated from our initial projects.

Mytrah is engaging in a rapid roll out of wind generation on a utility scale in India and as we have highlighted in this statement and previous updates to the market we have made significant progress over the last twelve months.

The Indian energy market remains robust, supporting the rationale for our accelerated development schedule.

In this light by the end of December, the Group should have 500 MW of projects distributed over 11 sites that are either commissioned or are under construction.

I look forward to the 2012 calendar year during which I believe Mytrah will achieve its target of becoming one of the largest renewable IPPs in India."
*EBITDA is calculated by taking the consolidated loss on continuing operations of USD 0.70 million (H110: loss of USD 0.44 million) and adding back tax, depreciation and finance costs amounting to USD 0.28 million (H110: USD nil), 0.62 million (H110: USD nil) and 0.74 million (H110: USD nil) respectively
Philippe Polman Account Manager Direct line: +44(0)20 7861 3921 Mobile: +44 (0)7841 672 830 Pelham Bell Pottinger 5th Floor, Holborn Gate, 330 High Holborn, London, WC1V 7QD Tel: +44 (0)20 7861 3232 Fax: +44 (0)20 7861 3233 www.pelhambellpottinger.co.uk
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