ThomasLloyd Capital LLC Saptashva Solar SL, the Spanish solar energy generator, today announced the appointment of ThomasLloyd Capital LLC, as its sole financial advisor. The Company plans to raise mezzanine and bank finance in the European capital markets, in order to boost its expansion plans in Spain and Italy. The business plan over the next 3 years is to develop 300 MW of generating capacity in this fast growing sector. The current round of finance aims to raise equity of €150 million ahead of a planned Initial Public Offering in 2009.

Saptashva Solar SL is a wholly owned subsidiary of XL Telecom and Energy, the leading Indian manufacturer of solar panels. XL is listed on the Mumbai and Indian National Stock Exchanges.

ThomasLloyd Capital LLC is the investment banking subsidiary of ThomasLloyd Group PLC.

For ThomasLloyd Group PLC, Tony Coveney, Executive Director, comments: We are delighted to take on this mandate in such an exciting sector as solar energy. This transaction will develop further our reputation in the renewable energy sector.

For Saptashva Solar SL, Dinesh Kumar, Managing Director says: We have exciting plans for the fast growing solar sector, and we saw in ThomasLloyd, a company with equally ambitious ideas and a strategic partner for the long term.

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ThomasLloyd Group plc +41 44 213 6767 Tony Coveney, Executive Director

ThomasLloyd Capital LLC +1 212 331 7829 Anna Brescia, Vice President

Saptashva Solar SL +91 40 27 88 33 33 Dinesh Kumar, Managing Director

- Notes to Editors -

About ThomasLloyd Group plc ThomasLloyd is a full-service global investment banking, securities and investment management firm that provides a diverse range of financial products and services worldwide to a select client base that includes corporations, financial intermediaries, institutional clients and high-net-worth individuals.

Founded as an alternative asset management company in Germany 2003, ThomasLloyd expanded through a combination of organic growth and strategic acquisitions and today comprises of two business divisions: Investment Banking, and Investment Management where it manages USD 1.9 billion of fee generating assets. The company employs more than 70 professionals internationally, offering all its core activities in Americas and Europe and select activities in the Middle East and Asia.

About Saptashva Solar SL Saptashva Solar S.L. ("Saptashva") is a Spain-based alternative energy power generation company focused on developing 1 GW of solar farms for direct grid-connect power generation in ten years. The Company was established in March, 2008 to acquire companies with existing PPA's in Europe, primarily in Spain and Italy. Saptashva is 100% owned by XL Telecom & Energy Ltd ("XL") of Hyderabad, India, which is listed on the Mumbai Stock Exchange and National Stock Exchange of India

XL is one of the largest exporters of solar modules for solar farms in Europe with current order book of over 45MW of modules. The creation of Saptashva introduces vertical diversification and forward integration for XL and will make XL the world's leading integrated solar energy company.

ThomasLloyd Capital LLC

Stock Identifier: GER.THLL

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