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Matrix Partners India invests INR 100 crores in FIITJEE Limited

Mumbai, India, July 13, 2009 Matrix Partners India today announced that it has invested Rs. 100 crores as the sole investor in the first round of funding of FIITJEE Limited. FIITJEE provides training for the prestigious IIT-JEE, AIEEE & other Engineering Entrance Exams. With the completion of this financing, Rishi Navani, Co–founder & Managing Director of Matrix India will join the board of FIITJEE Limited. “Our aspiration is to build the leading education company in India. We differentiate ourselves through the quality of education that we provide our students. We were fortunate to have significant interest in our financing requirements from the private equity community but concluded that Matrix Partners India with its understanding of the education sector and caliber of its people was the best partner for FIITJEE.” said Dinesh Kumar Goel, Chairman, FIITJEE Limited. “We have been impressed by Chairman Dinesh Kumar Goel’s vision and passion to make FIITJEE the leader in the education sector in India. The education sector in India should continue to exhibit robust growth and FIITJEE is ideally positioned to capitalize on this opportunity, we look forward to closely partnering with the company. This is our second investment in the education sector which is a key focus area for the firm.” said Rishi Navani, Co–founder & Managing Director, Matrix India. FIITJEE has appointed Rajesh Sharma, CFO to its board. Kotak Investment Banking acted as exclusive Transaction Advisor to the company. Since 1995, more than 25,000 of FIITJEE’s students have been selected to the Indian Institutes of Technology (IITs). In 2009, three of the top five students in the IIT-JEE exam were FIITJEE students including the #1 ranked student from its Two Year Classroom Program. About FIITJEE Limited: FIITJEE group, established in 1992 by Mr. Dinesh Kumar Goel, a B. Tech. graduate from IIT Delhi, is a leader in the education domain in India. The Group provides training for the prestigious IIT-JEE, AIEEE & other Engineering Entrance Exams. The Group also provides teaching services for higher classes to K-12 schools, trains students for the National Talent Search Exam (NTSE) and various scholastic aptitude tests for admission to US universities. . Over the past 17 years, FIITJEE has created a prominent brand and is distinguished as a quality education provider with a credible track record. Since 1995, more than 25,000 of its students have been selected to the Indian Institute of Technology (IIT). The Company has demonstrated a scalable business model in the supplementary education market. For more details on the company, please visit http://www.fiitjee.com About Matrix Partners India: Matrix Partners India is an investment firm with INR 1,500 crores under management. The firm invests in companies targeting the Indian domestic market with a sector independent investment strategy focused on generating exceptional returns. The firm invests up to INR 125 crores in a company depending on its stage of development and has invested in several companies including FIITJEE, Itzcash Card, and Tree House. The fund’s investors include leading university endowments and family foundations. Matrix Partners has a global network of funds in the US, China and India with $2 billion under management. Further information is available at www.matrixpartners.in

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