Speedwing - Press Releases

	Press Releases

	NEW PARTNER FOR INDIAN SUBSIDIARY

	London, Thursday April 4, 2002: British Airways has signed a deal with Warburg Pincus for the private equity investor to acquire a majority shareholding in World Network Services (WNS), the airline’s India-based data management company.

	Under the terms of the transaction Warburg Pincus will acquire a 70 percent stake in WNS, including certain UK assets of Speedwing International Ltd. British Airways will retain a 30 percent shareholding in WNS.

	The sale of WNS will enhance the future growth prospects and development of the company. It will allow British Airways to maintain a meaningful stake, whilst pursuing its ongoing strategy to focus on core business.

	Completion is conditional on the receipt of regulatory approval in India.

	--ENDS--

	April 4, 2002	XXX/GMJ/02

	Notes to Editors:

	For further information, please contact: British Airways: Gwen Jones 0208 738 3154 Laura De Vere 0208 738 5171

	Warburg Pincus: Citigate Peter Pender Cudlip 0207 282 2937

	British Airways and Warburg Pincus announced on October 23, 2001 that the two companies had entered into exclusive negotiations WNS was founded in 1996 and provides services to several industries including: pharmaceuticals, market research, charities, finance and banking and insurance It employs 1,400 people at two bases - Mumbai and Pune The company has a turnover of £11 million WNS’s future strategy requires investment to fully exploit the growing third party client base Warburg Pincus is one of the largest and most experienced global venture capitalists. It has invested around $12 billion in 29 countries over the past 30 years Warburg Pincus is the leading independent private equity house in India and has invested $700 million in 17 companies. India is home to Warburg Pincus’ largest investment in Asia and the second largest in its history (Bharti Telecom) Speedwing International Ltd, which was established in 1990, is a wholly owned subsidiary of British Airways Plc. It also provides Consulting and mission critical Mobile Communications services to the Aviation Industry Worldwide.

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