Mytrah Energy Regulatory News (MYT)

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Mytrah Energy Limited

("Mytrah Energy" or the "Company")

Board Appointments

Strengthening of Indian Development Team

The board of directors of Mytrah Energy (the "Board"), the wind power development company, is pleased to announce that Russell Walls and Peter Neville have been appointed to the Board as independent non-executive directors with immediate effect. In addition, the Company announces the significant strengthening of its execution and development capability in India.

Board Appointments

Russell Walls has a strong financial background, with extensive experience as a finance director, and possesses a broad range of experience across a number of sectors. Mr Walls is currently Independent Non-Executive Director and Chairman of the Audit Committee of Aviva plc, and Non-Executive Director of Biocon Limited (healthcare) and Signet Jewelers Ltd (retail). Mr Walls was formerly group Finance Director of BAA plc (transport), Wellcome plc (pharmaceuticals) and Coats Viyella plc (textiles). In addition, Mr Walls was former senior Independent Non-Executive Director and Chairman of the audit committee of Stagecoach Group plc (transport) and Hilton Group plc (leisure) and a former Non-Executive Director of Delphic Diagnostics Limited (medical) and Mersey Docks and Harbour Company (transport).

Peter Neville has some 40 years' experience in the global financial services industry, including currently as Chairman of Kleinwort Benson (Channel Islands) Ltd, a Non-Executive Director of Kleinwort Benson Channel Islands Holdings Ltd, and a member of the Kleinwort Benson Group Strategic Risk Committee. From 2001 until his retirement in May 2009, Mr Neville was Director General of the Guernsey Financial Services Commission. Mr Neville spent many years working as a banker and merchant banker in London and the Far East, before becoming involved in establishing the newly formed Investment Management Regulatory Organisation in London where he headed several of its departments, including compliance and investigations. In 1994, Mr Neville was appointed director of investment services at the Malta Financial Services Centre where he helped develop the Maltese investment services industry and set up its regulatory regime.

Strengthening of Indian Development Team

U.B. Reddy, who joins Mytrah Energy (India) Limited ("MEIL"), the Company's wholly owned Indian subsidiary, as Chief Operating Officer, has been working in the wind industry for 20 years and widely recognised as one of the pioneers of the Indian wind industry. He has been instrumental in conceptualization, planning and implementation of over 2,000 wind turbines of various capacities, along with the associated infrastructure facilities, across all wind rich areas in India. Previously he was Vice President - Business Development and Operations at Enercon (India) Ltd, a leading wind energy company in India. He has contributed to the formulation and finalisation of various state policies, the Generation Based Incentive Scheme, the Indian Electricity Grid Code and the Renewable Energy Certificate Mechanism in India. He is a graduate in Mechanical Engineering.

Shirish Navlekar, joins as Chief Financial Officer and will be a director of MEIL. He is an experienced professional in the Infrastructure Sector, primarily in conceptualisation, development, structuring/financing including private and public equity, mergers and acquisitions, implementation and operations of large infrastructure projects. He was the Chief Executive Officer of the Power Business of Cairn India Limited, and prior to this he served as the Chief Financial Officer of the Delhi International Airport.

He was formerly Head of Project Finance at GMR Infrastructure, one of India's largest infrastructure companies, where he handled project financing of roads, power and airports in initial growth phase of the Group. He also successfully concluded private equity investment and supported the Group's IPO. In addition, Mr Navlekar has worked with leading multinational corporations including General Electric, Mirant Asia Pacific Ltd. and Coastal Power Company on various power projects. He has experience with all stages in the development of utility scale power projects, from bidding, acquisitions, operations and asset management. Mr Navlekar graduated in Electrical Engineering and completed his post graduation in Marketing Management from Jamnalal Bajaj Institute, Mumbai University.

Following the appointment of Mr Navlekar as CFO of MEIL, Vikram Kailas has been appointed as Managing Director of MEIL, with Ravi Kailas remaining as Chairman. Vikram Kailas will continue as Finance Director of Mytrah Energy Limited.

The team at MEIL has grown to over 60 members with experience at senior levels across the spectrum of wind farm development. These additions enhance the Company's ability to execute the projects it has under development with Suzlon Energy Limited, Gamesa Wind Turbines Pvt Ltd and the Company's own land resources. The Company believes that the enlarged team has been involved in a significant portion of the wind assets that have been added in India over the last ten years.

Ravi Kailas, Mytrah Energy's Chairman and Chief Executive Officer, commented:

"I would like to take this opportunity, on behalf of the Company, to welcome Russell Walls and Peter Neville to the Board as independent non-executive directors. I believe that they will both provide valuable assistance to Mytrah Energy in developing its strategic opportunities.

"I believe that we now have one of the most experienced wind-farm execution and development teams in India, with advanced capabilities across the entire value chain from land acquisition, wind resource analysis, design, development, execution, EPC, operations and management of projects. This will significantly increase our ability to deliver on our target of installing 5,000MW over the next few years.

Our first two projects, totalling 67.2 MW, have since been progressively commissioned starting in June 2011; this was achieved ahead of schedule and we are confident that we will achieve our capacity roll out targets over the next twelve months."

- Ends -

For further information please contact:

Further information required by AIM Rules for Companies

The following information is provided in accordance with paragraph (g) of Schedule 2 of the AIM Rules for Companies.

Mr John Russell Fotheringham Walls, aged 67, is a director or partner or has been a director or partner of the following entities during the previous five years:

Mr Walls was a director of Delphic Diagnostics Ltd. which went into administration and sold in December 2009.

Mr Peter John Neville, aged 65, is a director or partner or has been a director or partner of the following entities during the previous five years:

Mr Neville was a director of Fastnet Limited which went into members' voluntary liquidation in June 2005.

There are no other matters which are required to be announced with regard to these appointments under paragraph (g) of Schedule 2 of the AIM Rules.