Photon Kathaas Productions

Trading update

Chennai, 26 October 2011.  Photon Kathaas Productions Ltd. (AIM: PKP, "Photon Kathaas", "the Company"), the South Indian film company, announces today that the release of the Hindi remake of Vinnai Thandi Varuvaaya ("VTV") has now been re-scheduled for early 2012.

Fox Star Studios along with Photon Kathaas have delayed the release into 2012 in order to capture the best possible theatrical release window.  As a result of the change in scheduled release, the Company expects that its earnings for the year to 31 December 2011 will be below market expectations. However, the production pipeline remains strong for 2012 and the Company is in discussions on a number of new projects.

Production for the movie, which is a co-production with Fox Star Studios (a joint venture between Twentieth Century Fox and Satellite Television Asia Region), is complete and post-production is in its final stages.

Venkat Somasundaram, PKP Chief Executive said:

"The decision to release VTV in early 2012 has been made in order to capture the best possible theatrical release window for the film.  It's our largest project to date and we are very excited about this film's prospects."

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About Photon Kathaas Productions

Photon Kathaas Productions is the first film company specifically created to make and distribute films of different genres to a primarily South Indian audience, speaking the languages of Telugu, Tamil, Kannada and Malayalam.

PKP benefits from a special creative relationship with its chief creative officer, Gautham Vasudev Menon. Gautham is one of the leading directors and producers in South Indian cinema. He has been involved in nine films to date, not only as a director but also as a screenplay writer, an executive producer and a producer. His earlier films include: Minnale (2000), Rehna He Tera Dile Mein (2001), Kaaka Kaaka (2003), Gharshana (2004), Vettaiyadu Vellaiyadi (2006), Pachaikili Muthucharam (2007), Vaaranam Aayiram (2008) Vinnaithaandi Varuvaayaa (2010), Ye Maaya Chesave (2010) and Nadunissi Naaygal (2011).

A. R. Rahman is PKP's creative adviser. He is an Indian film composer, record producer, musician and singer and is credited for totally overhauling the style in which music is made in India. A. R. Rahman has won two Academy Awards (Slumdog Millionaire), 25 Filmfare Awards, four Indian National Film Awards, a Bafta Award, two Golden Globes and two Grammy Awards.