Maya restructures its business, elevates internal leadership and ropes in Mr. Virendra Chauhan from Crest Animation Studio

Company Brief

New Delhi, October 22, 2007

Maya Entertainment Ltd. (MEL) which recently inducted media veteran Ronald D’mello as Managing Director and CEO, has restructured its business in three distinct verticals – Animation Services, Content Production and Education. Each of these three verticals will be managed by an independent team comprising of a business head, requisite creative, technical and operational teams.

Commenting on this, MEL Managing Director & CEO, Ronald D’mello said, “It is important that each segment of business is given enough focus to achieve its full potential. All three verticals of business require distinct core competencies and hence we have now restructured them with independent anchor teams comprising of internal leaders and few hired or to be hired leaders from the industry. We anticipate MEL to achieve significant growth and dominant market position in each of the verticals in the time to come ”.

The Animation Services vertical will be led by Mr. Jai Natarajan, a CG veteran formerly of Lucasfilm and Prana who has been an overseas production consultant for MEL since 2005, as EVP & Business Head while MEL has roped in Mr. Virendra Chauhan as EVP Creative to work in close association with Jai in this vertical. Mr. Virendra Chauhan began his career as an animator with Crest Animation Studios 16 years ago. As an artist he has worked for Ad films, TV series, Corporate films, Inflight Entertainment and Live Action films. He has directed Ad films, Short films and worked as a Visual FX Supervisor for many Hindi and South Indian movies. He has also worked on many international DVDs and 3D TV series project in the capacity of a Creative Director. MEL’s current orderbook includes a 30 episode TV series for a major European Broadcaster, CG for a full length animation feature film for a Indian film producer and service work for character design, game cinematics and animation for US based clients.

Mr. Chetan Desai, an old hand at MEL who headed the creative and technical team of CG and VFX, has been elevated as EVP-Creative in its Content Production vertical and will spearhead MEL’s foray into creation of own content IP’s in all segments ( movies, TV serials, home video, new media, etc ). MEL has already commenced pre-production work on a mythology based animation movie and is incubating animation and live action content projects for television and home video exploitation.

MEL’s education vertical Maya Academy for Advanced Cinematics (MAAC) domestic operations will be led by Mr. Naveen Gupta, a mechanical engineer who has been associated with MAAC since its inception and has seen MAAC spread over 60 centers. MAAC is poised to expand its presence in India substantially in the coming year while evaluating strong forays into overseas markets.

MEL is targeting substantial growth and enhanced presence in its three verticals over the next two / three years.

For further information, please contact:

Meghna Dixit Likhi

(O): +91-22-4050 6277

(M) +91 98209 34648