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Videsh Sanchar Nigam (VSND)

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Friday 15 September, 2000

Videsh Sanchar Nigam

Re Memo. of Understanding

Videsh Sanchar Nigam Limited
15 September 2000



LETTER TO: STOCK EXCHANGE, MUMBAI

This has reference to your letter dated 15 September 2000 on the subject.  In
this regard please be informed as follows:-

The Company had entered into a memorandum of understanding to acquire a 30%
equity stake in Indiainfo.com Private Limited, with an intention to establish a
single integrated co-branded portal which was to be a default home page for all
the Company's PC dial-up subscribers.  Definitive agreements were expected to be
crystalised within the MoU period of 120 days further extended by 30 days till
12 August, 2000.  The MoU is deemed to have been lapsed without signing
definitive agreements, VSNL is now exploring options available to pursue its
objective.

LETTER FROM: VIDESH SANCHAR NIGAM LIMITED



                                                                                
                                                                                
                       

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