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September 30, 1998

DUTCH BANK BARINGS BUYS 23% OF INDIAN FIRM SRA SYSTEMS

By CBR Staff Writer

Dutch investment bank ING Barings’ subsidiary Barings India Investments Ltd., has picked up a 23% stake in Madras-based SRA Systems Ltd. It picked up 865,000 shares at $1.8 per share. Barings plans to add value-added services to the SRA portfolio for the European market and will help it getting a listing abroad. Barings has targeted a 20% return on its investments in SRA Systems. Barings has already invested in another Indian software firm, BFL Software Ltd. and is scouting the market for other investments in IT. The bank has earmarked $250m for investments in Asia and is planning to invest a bulk of that in IT investments in India.

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