INDIA BUSINESS WORLD - March 1^st - March 15^th - 2008

CENTRUM AND FUTURE GROUP IN STRATEGIC TIE-UP

Indivision Fund, a private equity fund managed by Future Group, has acquired a 10% stake in Centrum Capital through a preferential allotment at an enterprise value of Rs 1,200 crore. Centrum Capital is Centrum's flagship investment banking company. Future Capital Holdings has also acquired a 50.1% stake in CentrumDirect, the forex money changing subsidiary of Centrum Capital, through fresh capital infusion of Rs 75 crore. Future Capital Holdings has also acquired 50.1% stake in a new joint venture company Centrum Wealth Managers for Rs 25 crore. Centrum's existing retail broking, PMS and financial products distribution businesses will move into Centrum Wealth Managers, said a company release.