January 25, 2007

Avenues’ South-Asia’s largest integrated ecommerce company has taken its on-going campaign to offer its merchants cutting edge payment solutions to the next level by adding yet another option to its already impressive payment range within a week of its last addition. Itz Cash is a Cash Card payment option that will be useful especially for Indian consumers. There are many Indians who do not hold Credit Cards nor are comfortable with the Net Banking facility offered by the banks. This card will help these customers to now shop online.

Navin Surya, Executive Director, Itz Cash said, “Itz Cash is a popular payment mode amongst Indian consumers. In-fact Itz Cash is the 4th most commonly used payment mode on Indian Railway site. Given its existing popularity amongst Indian consumers, I am confident that CCAvenue merchants will profit from this latest payment addition”.

With this easy and convenient payment option, CCAvenue merchants can now expand their online market to include those sections of Indian public who do not own a credit card, debit card or a mobile phone. Anyone can purchase an Itz Cash Card and begin transacting online. This payment option also comes with a convenient top-up option.

Mr. Vishwas Patel, CEO, Avenues said, “We at Avenues strive to provide our merchants with the latest and best of payment options available. We have made great strides towards this goal. We now offer our merchants – all major Credit Cards, the widest range of net banking options, the latest mobile payment option and now yet another popular payment option – Itz Cash Cards. By signing with Itz Cash, we aim to provide our merchant’s access to yet another market segment.”

About Itz Cash        
Itz Cash is an innovative product launched by Intrex India in Year 2003. Itz Cash is a unique payment instrument available for Indian consumer, which is safe and convenient to transact online.

Intrex India Limited is a public limited company incorporated in Year 2000 by Essel Group. Essel Group is truly diversified with its business activities spread over different Industries like Media and Entertainment, Tourism and Amusement, Packaging, Telecommunications and Publishing. The group is known for its successful implementation of unique business ideas. For more information visit: http://www.itzcash.com

About Avenues India Pvt Ltd        
Avenues is a profitable, debt-free INR 168 crore + turnover company (as on 31/3/2006) and currently services more than four thousand eMerchants worldwide through its solutions www.CCAvenue.com, www.ResAvenue.com, www.EventAvenue.com, www.MembersAvenue.com, www.CineAvenue.com, www.TrustAvenue.com and www.BpoAvenue.com. It is the largest integrated eCommerce solutions provider in South Asia. Avenues has shown revenue growth and profit growth consistently, year on year even during the difficult economic environment of the past. Avenues is incorporated in India and has offices in Singapore, Hong Kong and USA. The Avenues support and development center is based in Mumbai, India. The total strength of the Avenues team is currently 120 persons spanning across all disciplines. For more information, visit www.Avenues.info