Silverline board mulls international offering of equity

IRIS

Silverline Technologies Ltd. has informed the Bombay Stock Exchange that a
meeting of the board is scheduled to be held on June 20, 2002 to consider an
international offering of equity/equity linked securities.



The company, in a press release earlier, said that it has retained the
Technology Investment Banking Group of TAIB Bank to assist in financial and
strategic re-structuring of the company. TAIB will lead manage the financing and
working capital re-structuring to assist the company in meeting its growth
capital needs and existing debt obligations.



TAIB will also work closely with the company board to address certain strategic
issues, which include institutionalizing best practices in corporate governance,
greater operational and financial transparency and strengthening of its India
based senior management team.