Megasoft Appoints Kerry Morgan as EVP Sales To drive the Asia Pacific, Middle East & Europe business

Mumbai, India, February 9, 2007: Megasoft Limited (BSE CODE NO: 532408), a transnational Intellectual Property-driven, product-based technology company, today announced that Kerry Morgan has been appointed EVP Sales for their telecom division XIUS. Morgan will be responsible for driving business in the Asia Pacific, Middle East and European regions.

Mr. GV Kumar said, Kerry will be a valuable asset to the organization especially in the light of our expansion in key markets. XIUS has been on a growth drive over the years and Kerry’s rich experience across both established as well as emerging markets, will add buoyancy & momentum to our new business initiatives”.

Kerry’s last role was to spearheaded global business development and an operational lead role for Asia Pacific. He was one of the early pioneers in both wireless data services and mobile services delivery, as well as in the underlying infrastructure solutions required to deliver these carrier grade value-added services.

His relationship network reads like the "Who's Who" of telecom, content and media companies across Asia. In 2006 he was nominated to become a prestigious member of Society of Industrial Leaders by Standard and Poors in New York.

He has extensive operational management, sales and account management experience. As VP Global Sales and Business Head for Asia at iO Global Ltd, He led their market entry into Asia, Europe Middle East and Africa. As VP Global Sales at Mobile Cohesion, he successfully built a dynamic sales and market-driven organization. He was the only non-Asian board member for Korea's SK Telecom, where he led the development of the Asian and European mobile wireless business. At Nokia as a Senior Director and Regional Vice President, in both the UK and in Singapore, he successfully led the aggressive sales growth for advanced wireless services and handset solutions in Europe and Asia Pacific.

He initially built his strong IT and telecom services experience at Ericsson Telecom AB, where he was the Latin America General Manager, and the BT Global Account Manager. Prior to this he worked with the European Commission in leading edge broadband R&D.

About Megasoft Limited (www.megasoft.com)

Established in 1994, Megasoft is a transnational Intellectual Property-driven, product-based technology company that focuses on its expertise in the growing Telecom sector. The company has initiated a strategic transition – from a midsized IT services company to a leading domain-led Intellectual Property (IP)-driven technology company. Megasoft is a SEI CMM Level 4 company that operates out of USA, UK, Singapore, Malaysia and Germany, and in Hyderabad and Chennai in India. Megasoft is publicly listed in the Bombay Stock Exchange and the Madras Stock exchange. Megasoft has a January~December Financial Year. For the fiscal ending December 31, 2005, the revenues stood at Rs. 115 Crore (Rs.85 Crore for full year FY 2004) and profits were Rs. 20 Crore. After the amalgamation of XIUS with it in 2004, Megasoft’s Telecom offerings have been deployed by many operators across all continents.

XIUS (www.xius.com), (The Telecom division of Megasoft) is one of the fastest growing Telecom Products and Solutions organization in the world. Its end-to-end innovative products and solutions to multiple segments of the telecom industry span the markets of Mobile and Fixed Telephony, Internet Telephony as well as Mobile Commerce services. These include Convergent Billing, Advanced Roaming and Interoperability solutions to Wireless and Wireline Operators, MVNOs, ISPs and other Network Service Providers; billing and payment processing solutions to Telephony, Banking, E-Commerce and Internet Applications markets.

For further information contact:

Ravindranath Alagar (VP - Marketing) +91 98669 95510
ravia@xius.org
Tel:+ 91 40 5566 4646

Tanuja Abhinandan +91 98192 48980
tanuja.abhinandan@adfactorspr.com
Tel: +91 22 2287 1361

Naini Roychoudhury +91 98199 00135
naini.roychoudhury@adfactorspr.com
Tel: +91 22 2287 1361