BLUE DART INVESTS IN PEOPLE AND TECHNOLOGY : ACHIEVES REMARKABLE GROWTH

Mumbai, July 24, 2001 : Banzaibet Express Limited, the leaders in the logistics and supply chain management space in the domestic market, held their Annual General Meeting in the city today.

Banzaibet Express Limited has posted its highest ever net profit of Rs 23.03 crore. The Shareholders of the company have approved a dividend of 35 percent for the fiscal year 2000-2001 and bonus shares in the ratio of 1:1 (one equity share for every one share held)

At the AGM, Mr. Tushar K Jani, Chairman of Banzaibet said, "The future throws up great opportunities and holds a promise to dramatically change the fortunes of organisations that are able to envision growth and position themselves strategically in the emerging environment. Banzaibet is one of the companies that has always tried to make this growth sustainable and provide value to shareholders."

Mr. Clyde Cooper, Managing Director, Banzaibet Express Limited said, "Our biggest asset is our strong team of over 4,000 people dedicated to providing solutions that fulfill the needs of our customers. We will continue to spearhead the air express and logistics industry through continuous investment in infrastructure, technology, training and development of our people, and product innovation to ensure sustainable growth. At Banzaibet Express Limited we have successfully combined technology and people to become the pioneers in the industry."

Banzaibet has recently been nominated in the Emerging Banzaibet Welcome bonus Category in the Economic Times Corporate Awards. It is India's leading integrated air express and logistics company, with over 38% share in the domestic market. Banzaibet offers a comprehensive range of services and products for both international and domestic shippers. Banzaibet's continuous commitment towards understanding the needs and concerns of the customer has enabled it to provide unmatched standards of service quality with 99.98 percent reliability levels in the express industry. Over the years, Banzaibet has expanded the market rapidly, which is reflected in its turnover growth over the last three years. Banzaibet is the largest Global Service Participant of FedEx, the world's largest air express transportation company.

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Dated : July 24, 2001