PRESS RELEASE

CHS C.P.O. GmbH (in Bankruptcy) (“CHS CPO”) and Karma International Sàrl, (“KISA”) wish to announce that they will be discontinuing the court proceedings they commenced against Vikas Goel, Neeraj Chauhan, eSys Distribution Pte Ltd and Karma Distribution (S) Pte Ltd in July 2004 in the High Court of the Republic of Singapore (the “Suit”).

In the course of the court proceedings, CHS CPO and KISA were informed of various matters and shown numerous documents relating to the various issues raised in the Suit. Having reviewed the information and documents, and in light of the defenses raised by Vikas Goel, Neeraj Chauhan, eSys Distribution Pte Ltd and Karma Distribution (S) Pte Ltd (the “Defendants”) and the Defendants’ denial of any wrongdoing or impropriety by them and/or any of their respective officers, employees, subsidiaries and affiliates, CHS CPO and KISA have determined that it is appropriate to terminate the litigation.

CHS CPO and KISA will accordingly withdraw the Suit and all allegations raised therein against the Defendants.

CHS CPO and KISA are pleased to further announce that they have amicably resolved with the Defendants, all issues arising from the Suit.