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Avaya to Purchase Tata Group's Shares of Tata Telecom Ltd.

04-02-2004

Avaya announced an agreement with the Tata Group to acquire its shares of Tata Telecom Ltd., India's leading communication solutions provider.

Avaya Inc. (NYSE:AV) a leading global provider of communications networks and services for businesses, today announced an agreement with the Tata Group to acquire its shares of Tata Telecom Ltd. (Mumbai, TTL:BO), India's leading communication solutions provider. These shares represent approximately 25 percent of the voting equity share capital of Tata Telecom, which is based in New Delhi.

Under terms of the agreement, Avaya will pay approximately US$18 million in cash or 220 Rupees per share.

The agreement is expected to close by September 30, 2004, and is subject to statutory requirements and conditions, including regulatory approvals. This includes initiating a public tender offer for a minimum of 20 percent of the outstanding shares of Tata Telecom.

About Avaya
Avaya Inc. designs, builds and manages communications networks for more than one million businesses worldwide, including more than 90 percent of the FORTUNE 500®. Focused on businesses large to small, Avaya is a world leader in secure and reliable Internet Protocol (IP) telephony systems and communications software applications and services.

Driving the convergence of voice and data communications with business applications - and distinguished by comprehensive worldwide services - Avaya helps customers leverage existing and new networks to achieve superior business results. For more information visit the Avaya Web site: http://www.avaya.com

About Tata Telecom Ltd.
Tata Telecom is a joint venture between Avaya and the Tata Group and is India's leading voice communication solutions provider. Its solutions range from converged voice and data networks and customer relationship management solutions to unified messaging solutions for enterprises.

Tata Telecom offers technologically advanced end-to-end convergent business solutions for enterprises, and solutions for technology intensive applications such as distance learning and tele-medicine. The company has an extensive distribution network, comprising over 50 systems integrators, channel partners and dealers. With over 6,000 customers, it provides world-class service support through a remote maintenance integration system. Tata Telecom has 500 employees and 30 offices across India.

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