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Non-Tech : ICICI Ltd - (Nyse: IC)

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To: Mohan Marette who wrote ()4/4/2000 8:09:00 AM
From: Labrador   of 494

A U.S. press release on Yahoo -- We're finally getting some coverage.

Tuesday April 4, 7:47 am Eastern Time

ICICI unit ties up with Sun

BOMBAY, April 4 (Reuters) - India's ICICI Infotech and Sun Microsystems (NasdaqNM:SUNW - news) on Tuesday signed a memorandum of understanding (MOU) for jointly incubating dotcom startups and for creating a data centre.

The data centre will allow dotcom companies to test and evaluate new technologies and will also serve as an application service provider, a statement from ICICI Infotech said.

A proposed disaster recovery centre will act as a backup to the data centre, it said. ICICI Infotech, which is a fully owned subsidiary of financial services firm ICICI Ltd (NYSE:ICd - news), is planning to get its shares listed shortly either on the Nasdaq or on Indian bourses, ICICI's Managing Director K.V.Kamath said.

``ICICI Infotech will list...I guess it will be sometime this year,' he said.

Shares of ICICI ended 10.75 rupees lower at 124.25 at the Bombay Stock Exchange on Tuesday.
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