Walchand Peoplefirst - Updates

Walchand Peoplefirst Ltd has informed BSE that the Company has on October 30, 2007 executed the Debenture Subscription Agreement with Walchand TalentFirst Ltd, its wholly owned subsidiary and Bennett Coleman & Co., Ltd for issuance of 0% (Zero) fully convertible Debenture by Walchand TalenFirst Ltd to M/s. Bennett Coleman & Co., Ltd subject to fulfillment of the conditions precedent laid down the said agreement.