Results:

Gross revenue for the Half Year ended 30 September 2005 was Rs.4235.83 lakhs against Rs.2755.24 lakhs for the Half year ended 30 September 2004 recording a growth of 53.7%.  Profit before taxes was at Rs.910.42 lakhs against Rs.524.68 lakhs recording a growth of 73.5%. Net profit after taxes was Rs.977.72 lakhs against Rs. 524.68 lakhs for the previous period recording an impressive growth of 86.3%.

 Gross Revenue for the Quarter ended 30 September 2005 was at Rs.2405.10 lakhs, which has grown by 59.7% against Rs.1506.44 lakhs for the corresponding Quarter ended 30 September 2004.  Profit before taxes were higher by 69.7% at Rs.508.16 lakhs against Rs.299.43 lakhs.  Profit after taxes were significantly higher by 94.4% at Rs.582.03 lakhs against Rs.299.43 lakhs.

 On a sequential basis, gross revenue was higher by 31.4% over the previous quarter ended June 2005 (Rs.1830.74 lakhs); profit before taxes was higher by 26.3% (Rs.402.24 lakhs) and profit after taxes was higher by 47.1% (Rs.395.67 lakhs)

 Business outlook - Expansion of services and significant projects

 Cashing in on debt collection

The collection industry is growing, profitable, and dynamic. As committed during the IPO Allsec’s focus on this vertical has been consistent and to this end Allsec has also brought on to its Management an expert in this domain.

 Collection agencies in the US have tripled their income in the past 10 years and boosted staff levels by 50 percent in the past five years, according to industry figures. With the steady growth in traditional business lines and with the expected growth in business outsourcing, the industry has attracted more attention than it previously had, of the financial community. This could well be one of the business community's key growth areas in future.

 Adi Saravanan, Founder & President, Allsec Technologies said “India is very well positioned to take advantage of the high growth happening in the US collections market. Allsec has been handling third party consumer and commercial collections and plans to expand its operations in this vertical considering the market potential and size”.

 Industry drivers

• Increasing consumer debt
• Continued trend of outsourcing
• Globalization
• 6,500 agencies in the US earning $10 billion in revenue

–       Top 10 - 29%

–       Top 11–100 -17%

–       All others - 54%

 ANNOUNCEMENTS:

The company also announces additions to its Board & Management team:

 Board of Directors

Mr. A.Sankarakrishnan / Director

 Mr. Sankarakrishnan, Managing Director of Kone Elevators India Private Limited and Olympus Elevator Private Limited was inducted to the Allsec Board in July 2005.

Mr. T Ananthanarayanan / Director

 Mr. T Ananthanarayanan former Executive Director of Ashok Leyland Limited has joined the Allsec Board from October 20, 2005. He is a chartered accountant by qualification and was with Ashok Leyland group for over 25 years.

 He is in the Board of IndusInd Bank and a few companies of the Ashok Leyland group while being the Ombudsman of Ashok Leyland Limited. He is an expert in corporate planning and financial structuring and shall guide the company in corporate governance matters.

 Key Operating Personnel

 “Inline with the commitment made by the management at the time of IPO, we have appointed Mr. Tom Williams as VP- Collections” said Jagadish Ramamoorthi, Director & CEO, Allsec Technologies. Tom is based in Dallas / Ft. Worth Texas, USA and is a seasoned collections expert with over 20 year’s experience. Prior to joining the Allsec Team he worked with Dell Financial Services and Associates & Citibank. His extensive experience in setting up first and third party collections operations will help clients evolve a best fit strategy for their off shoring requirements.

 ABOUT ALLSEC TECHNOLOGIES LTD

Allsec Technologies Limited (“Allsec”) is one of Chennai’s earliest contact center & and a leading Indian third-party voice-based BPO Service-provider with 1700 seats and 4 delivery centers. The new facility of 1000 seats was inaugurated on July 23, 2005.

 The company was the first among its peers to come out with an IPO in India earlier this year. The founder promoters Adi Saravanan and Ramamoorthi Jagadish lead a team of professionals with diverse backgrounds and domain skills providing BPO services to global markets with special focus on Processes & Quality.

 The Global Delivery Model of the company leverages talent and infrastructure in order to provide high quality, rapid time-to-market solutions.