Banerjee to Join Cairn India as CFO

Cairn India announced the appointment of Indrajit Banerjee as Chief Financial Officer. Banerjee, aged 50, will assume his responsibilities and join the board of directors of Cairn India on 1 March 2007.

Banerjee graduated from the University of Calcutta with a Bachelor's degree in Commerce. He is also an associate of the Institute of Chartered Accountants of India. He is married with two children.

He started his career at PriceWaterhouse Coopers in Kolkata in 1979 and has held several senior posts throughout his career including seventeen years at the Indian Aluminium Company, which was part of the Alcan Group and two years in Lucent Technologies (India). In his most recent role as President - Finance and Planning at Lupin Limited, he played a key role during the growth phase of the Company.

Banerjee will replace Jann Brown, who will step down as interim Chief Financial Officer of Cairn India with effect from 1 March 2007.

Rahul Dhir, Chief Executive Officer of Cairn India, said:

"Cairn India is delighted to have secured the services of a CFO who has an excellent track record of value creation. Indrajit is widely respected in the markets for his integrity and commitment to financial discipline. At a time when Cairn India has significant growth potential following the successful completion of the IPO, Indrajit will bring his skills to a management team which is very much focused on realizing significant value for shareholders from a world class asset base."

Banerjee, the newly appointed CFO of Cairn India, said:

"Cairn India presents an exciting opportunity for me. I see the combination of future Rajasthan production and active exploration drilling programs in India providing the potential for continued growth. I look forward to joining Cairn India as it is poised to play an integral part in meeting India's growing energy demand."