1. Valiant Communications (UK), the wholly owned subsidiary has entered into an agreement with Herbing Communicatii SRL (Herbing), Romania, under which Herbing shall offer communication equipment of the Company to different utility sectors including power utilities in Romania. Under the aforesaid agreement, the initial commercial deployment have also been commenced in following major power utilities of Romania:

a) Transelectrica SA, and
b) Electrica Transilvania SA

2. The Company has signed a Memorandum of Understanding (MoU) with Webfil (Webfil), a subsidiary of Andrew Yule & Co. and an undertaking of Govt. of West Bengal, under which Webfil shall offer and market the communication equipment of the Company to different Indian utility sectors on non-exclusive basis.