Rediff.Com CFO Joy Basu, Named a Winner in the 6th Annual CFO Awards, 2006

Mumbai, Maharashtra, India , 2007-01-16

The India CFO Awards are instituted by International Market Assessment India, a research and business information company and adjudged by a panel of CEO’s CFOs, academics and previous winners in India.

Mr Basu was judged the winner in the category of medium sized businesses. According to the IMA, judges look for “implementation of best practices in such areas as reporting, general accounting, cost accounting, internal controls, transaction processing etc”

“It is an honor to be a winner of the India CFO Awards 2006,” said Mr. Joy Basu. We have always tried to adopt and institutionalize global best practices in corporate governance and financial management.”

“I am delighted that Joy has won this prestigious award”, said Ajit Balakrishnan, Chairman and CEO Rediff.com . “As the CFO of the Company he has played an invaluable role over the last four years. During this period we have strengthened our position as a leader in the Indian online space and built value for all our stakeholders by focusing on product innovation as part of our core strategy”.


About Rediff.com

Rediff.com (NASDAQ: REDF) is one of the premier worldwide online providers of news, information, communication, entertainment and shopping services to Indians worldwide. Rediff.com provides a platform for Indians worldwide to connect with one another online. Founded in 1996, Rediff.com is headquartered in Mumbai, India with offices in New Delhi and New York, USA .


Safe Harbor

Except for historical information and discussions contained herein, statements included in this release may constitute "forward-looking statements." These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those that may be projected by these forward-looking statements. These risks and uncertainties include but are not limited to the slowdown in the U.S. and Indian economies and in the sectors in which our clients are based, the slowdown in the Internet and IT sectors world-wide, competition, success of our past and future acquisitions, attracting, recruiting and retaining highly skilled employees, technology, legal and regulatory policy, managing risks associated with customer products, the wide spread acceptance of the Internet as well as other risks detailed in the reports filed by the Company with the SEC. The Company and its subsidiaries may, from time to time, make additional written and oral forward-looking statements, including statements contained in its filings with the SEC and its reports to shareholders. The Company does not undertake to update any forward-looking statement that may be made from time to time by it or on its behalf.



Contact

Debrata Saha, Rediff.com (India) Ltd., 91 22 24449144
[email protected]