GVK Power - Acquisition of Shares in BIAL

GVK Power & Infrastructure Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 05, 2009, inter alia, has approved the acquisition of 4,61,52,000 shares being 12% of paid up equity share capital of Bangalore International Airport Ltd (BIAL) at a total cost of Rs. 484,59,60,000 (Rupees Four Hundred Eighty Four Crores Fifty Nine Lacs and Sixty Thousand Only) from Flughafen Zuerich AG through GVK Airport Developers Pvt Ltd (GVKADPL), a wholly owned subsidiary of the Company. The above acquisition will be completed upon obtaining necessary consents.

The Company has also entered into a Strategic Alliance Agreement (SAA) with Unique
Airports Worldwide AG (Zurich Airport) to collaborate for new airport projects in Indian
Sub-Continent.