Max India Limited

Investor Presentation

Disclaimer
This presentation may contain statements that are forward looking. These statements are based
on current expectations and assumptions that are subject to risks and uncertainties. Actual
results could differ materially because of factors listed in the management discussion and
analysis section of our Annual Report. We do not undertake any responsibility to update any
forward looking statements nor should this be constituted as a guidance of future performance.
1
 Max India – An Introduction

Max India Limited is a multi-business corporate, driven by the spirit of Enterprise,

focused on Knowledge, People and Service oriented businesses of Life Insurance,
Healthcare and Clinical Research. Max also maintains interests in Speciality Plastic
Products for the packaging industry and Healthcare Staffing.

Core Others

VISION
“To be one of India’s Most Admired
Corporates for Service Excellence”
www.maxindia.com
MISSION
n Establish niche service businesses in Life
Insurance, Healthcare and Clinical Research
n Life Insurance and
Healthcare……..convergence!
n Rank amongst top 3 players in each niche
n Partner with best-in-class world leaders
n Create service excellence in all businesses

BSE Scrip Code: 500271, NSE Ticker: Max, Bloomberg: Max IN

2
 Max India – Life ….. Our Focus

Protecting Life through Life Insurance www.maxnewyorklife.com

Caring for Life through Healthcare www.maxhealthcare.in

Improving Life through Clinical Research www.neeman-medical.com

3
 Track record of successful international
Business Partnerships…over last 20 years

Pharmaceuticals
Pharmaceuticals Gist Brocades, The Netherlands

Electronic
Electronic Motorola, USA
Component
Component
Distribution
Distribution Avnet Inc, USA

Hutchison Telecommunication Ltd,

Mobile
Mobile Telephony
Telephony Hutchison
Hong Kong

COMSAT Comsat Investment Inc

Communication
Communication
Services
Services Lockheed Martin Global
Telecommunications, USA

Schering AG, Germany

Plating
Plating Chemicals
Chemicals ATOTECH
Atotech Deutschland GmbH,
Germany
Medical
Medical
Transcription
Transcription Healthscribe Inc., USA

4
 Max India – Key Financial Indicators
(FY 05 – 06)
n Consolidated revenue at $342 Million
Revenue ƒ Life Insurance revenue at $189 Million Up 96%
ƒ Healthcare revenue at $31 Million Up 195%

n Consolidated cash generated from operations at $57 Million Up

Profitability
395%

Investments n Group Assets Under Management at $304 Million Up 122%

n Max Telecom Ventures merges with Max India Ltd., post merger
Reserves reserves of Max India at $205 Million

Max India - Share Price Trend

Share Price and Capitalization 1000

800

600

400
n Current share price is over Rs. 1000 ($22)
200

n Market capitalization is over $800 Million 0

Mar- Jun- Sep- Dec- Mar- Jun- Sep- Dec- Mar- Jun- Sep- Dec-
04 04 04 04 05 05 05 05 06 06 06 06

5
 Max India – Balance Sheet*
Sources of Funds US$ Million
Reserves – 216

Application of Funds
Share Capital – 8 Loan Funds – 51 Business Investments – 164

Fixed Assets – 25

Net Current
Assets – 11 Cash and Liquid
Investments – 75

*As at December 31, 2006 6

 Investment in Core Businesses

US $ Mn

Planned Current Equity Peak Equity

Business outlay for Investment Investment
the business by Max India by Max India

Life Insurance * 222 115 164

Healthcare # 156 37 60

Current stake of Max India

* Life Insurance – 74%
# Healthcare – 73%

7
 Max India – Shareholding Pattern

Number of Outstanding Shares as on December 31, 2006 – 35,980,411

Promoter Group – Analjit Singh
41%

FDI – Warburg Pincus

Others 17%
17%
FII – Warburg Pincus
FII – Others 11%
14%

8
Max India Board Recommends
Stock Split
One Equity Share of par value Rs. 10/-
each to be split into 5 Equity Shares
of par value Rs. 2/- each

Shareholder’s Extra-ordinary General Meeting for approval on February 26, 2007

9
 Max India – Board of Directors
Mr. Analjit Singh – Chairman

Dr. S.S. Baijal

Mr. N.C. Singhal

Mr. Ashwani Windlass

Mr. Bharat Sahgal

Mr. N. Rangachary

Mr. Piyush Mankad

Mr. Rajesh Khanna – Warburg Pincus

Mr. B. Anantharaman – Joint Managing Director

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Max Healthcare

www.maxhealthcare.in

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 Max Healthcare Model

ƒ Heart and Vascular

ƒ Neurosciences
n Heart & Vascular Institute ƒ Joint Replacement &
Tertiary Orthopaedics
n Super Speciality Hospital ƒ Obstetrics and Gynaecology
ƒ Paediatrics
ƒ Surgery and inpatient
facilities
n Hospitals – 4 ƒ High-end Diagnostics:
Secondary ƒ MRI, CT
n Speciality Centres – 2 ƒ Doctor Consultation
ƒ Eye and Dental Care

ƒ Specialist doctor consultation

and a full time nurse.
Primary n Clinics/Implants – 9 ƒ Basic diagnostics like
Pathology Collection

ƒ Enable retention of patient traffic

ƒ Enable ‘start-to-finish’ comprehensive, seamless care: Consult and Diagnostics,
Diagnostic tests, pre-operative work up, operations, post-operative care

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 Vision – Mission
Key Differentiators PASSION Build Trust
ƒ Focused NCR centric delivery – for operational excellence Deliver world class healthcare with a service focus, by creating an
ƒ Close to customer – geography VISION institution committed to the highest standards of medical & service
excellence, patient care, scientific knowledge and medical education.
ƒ Comprehensiveness of medical services (except organ transplant and radio
therapy) • Create unparalleled standards of Medical & Service Excellence
• Care provider of FIRST CHOICE
ƒ Leadership in 5 super-specialties in tertiary care
• Principal Choice for Physicians
-‘Star’ physicians supported by a group of high quality physicians • Ethical Practices
ƒ Ethics MISSION • Create National Centre of Excellence for select Super Specialties.
ƒ Memorable brand experience • Build towards international ‘reach’ by creating patient confidence through
professional skills, research and technology
-‘Star’ and quality physicians
-Infrastructure and equipment • Profitable without profiteering.
-No surprises – cost of care, pricing, medication GOALS • Seamless linkage between secondary and tertiary care.
-Signage • Innovate to address wider market.
-Look – feel – smell - touch KEY WHAT – Medical USP’s ; Best in class ; Comprehensive care ;
ƒ Innovation to bring in walk-in customers Convenience & accessibility ; Seamless service ; Patient records ; Consistent and
-Location location
OBJECTIVES customised care ; Service excellence ; Preventive health ; Caring place to work.

-Max Health Plan under roll-out HOW – Train train train ; Partnership with Medical community ; Principal choice for physicians ;
Never ending focus on medical and service excellence ; Build lasting customer relationships ;
-Other new programs ie Golden Years, Life Membership, Prepaid STRATEGIES
Primary, Secondary and Tertiary care through Co. managed / partnership; No franchising.
ƒ High quality nursing and paramedic care supported
by nursing and paramedic college • WHAT- HOW - WHEN - COST - LINKAGE
ƒ Technology and IT (in 18 months) • Shared responsibility with single accountability.
INITIATIVES • Unique approach through:
ƒ Extensive emphasis on training
- International benchmarking. - Walk the Talk - IT Capability
Key Public Messages - Medical – Management Alignment. - Rehearse rehearse - Cost Efficiency
- Train train train. - Mystery customers - Attrition Management
ƒ Medical Excellence
ƒ Service Excellence – Total Experience METRICS & PERFORMANCE
VALUES & BELIEFS OPERATING PRINCIPLES STANDARDS
ƒ In your community - near you MGMT PROCESS
ƒ High-end tertiary care in Private
• Caring • Courtesy & Caring always • ISO 9001 : 2000 • Competence rating
sector • Excellence • Customer comes first • JCIA Accreditation • Potential analysis
ƒ Comprehensiveness • Integrity • Do it right first time • Credentialing / Grant • PSC model
ƒ Referral system – National & - Personal • International image standards of privileges • Balanced scorecard
- Professional • Efficient process management • Employee productivity • Performance / Risk linked
International
• Openness/Transparency • Direct & open communications • Employee Engagement survey reward.
ƒ Value for money • Teamwork • Create trust • Service Dashboard - Sparsh
ƒ Partnering with medical community • Knowledge • Fun at work • NABH Accreditation
ƒ Caring place to work • Win-win partnerships • Compliance • NABL certified Lab system.
ƒ Corporate Social Responsibility

13
 Max Healthcare – Board of Directors

Mr. Analjit Singh Chairman and Managing Director

Mr. B Anantharaman Joint Managing Director, Max India Limited

Dr. Ashok Seth

Mr. KK Mathur

Dr. RP Soonawala

Mr. Aman Mehta

Mr. Anuroop Tony Singh

Mr. Rajesh Khanna Warburg Pincus

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 Indian Healthcare
Indian Healthcare Industry:
n Indian healthcare industry – Currently estimated at about $33 Billion
ƒ Growing at 12% to 15% per annum
ƒ Expected to be over $65 – 70 Billion by 2012, mainly driven by private sector investments

n Over 1 Billion people, spread across different economic classes

n Target Segment – More than 200 million upper and middle class
ƒ Growing at over 4% per annum, with combined annual income of over $182 Billion

Health expenditure in India by funding sources:

Government
Majority of healthcare spending 25%

in India is on self pay…

Self-pay
59% Municipal
Bodies
8%

Foreign Aid
Employers 2%
6%

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Current Facilities

16
 Current Facilities

MAX HEART AND VASCULAR INSTITUTE – SAKET [South Delhi]

n 250 patient beds
n 3 Operation Theatres, 2 Cardiac
Catheterization Labs
n Total covered area of approx.150000 sq. ft.
n Post Surgery Critical Care Unit
n High Dependency Unit
n Apex Coronary Care
n Advanced Coronary Care Unit
n Exclusive well equipped ‘Observation Bay’
and ‘Post Cath. Recovery’
n Nuclear Diagnostic Services with Variable
Angle Dual Head Gamma Camera
n Centralized Emergency Command with
Advanced Cardiac Life Support Ambulances
and Air Evacuation Service.
n Max Institute of Allied Medical Sciences
(High-end General Surgery)
Operational since January 2005

17
 Current Facilities

MAX SUPER SPECIALITY HOSPITAL – SAKET [South Delhi]

n 225 beds (including 70 critical care beds)

n To include:
ƒ 7 OTs, 20 Consult Chambers
ƒ Tower Specialties – Orthopaedics, Neuro
Sciences, Obstetrics & Gynaecology and
Paediatrics
ƒ Brain Suite (first in Asia) and intra
operative MRI
ƒ DSA Lab (for Neuro Sciences)
ƒ Emergency Services
ƒ High end Radiology facilities with 64 slice
Cardiac CT

Operational since June 2006

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 Current Facilities
SECONDARY CARE MAX HOSPITALS OPERATIONAL AT…

PITAMPURA NOIDA PATPARGANJ

(February 2002)
(North Delhi)
ƒ 100 inpatient beds
ƒ 2+1 OT, 1 LR
ƒ Lithotripsy
ƒ Mother & Child care
ƒ Non-Invasive Cardiology
ƒ Plastic and Reconstructive
surgery
ƒ Physiotherapy
ƒ Full range diagnostics
ƒ PHP, OPD and Dentistry
(August 2002)
(Suburb)
ƒ 40 inpatient beds
ƒ 2+1 OT, 1 LR
ƒ Mother & Child care
ƒ Non-Invasive Cardiology
ƒ Laparoscopic Surgery
ƒ Orthopaedics
ƒ ENT, Ophthalmology
ƒ Urology & Nephrology
ƒ Full range diagnostics
ƒ PHP, OPD and Dentistry
(May 2005)
(East Delhi)
ƒ 145 inpatient beds
ƒ 2+1 OT
ƒ Mother and Child care
ƒ Orthopaedics
ƒ General Surgery
ƒ Critical care incl. Dialysis
ƒ Non-invasive Cardiology (incl.
Cardiac Catheterization Lab)
ƒ ENT, Ophthalmology
ƒ Other allied specialties
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 Current Facilities

SPECIALITY CENTRES – PANCHSHEEL [South Delhi]

OPTHALMOLOGY AND DENTAL CARE SPECIALIST CONSULTS &

(November 2005)
ƒ Lasik, OPD and Diagnostics
ƒ Dental – 3 chambers, OPG and Lab
ƒ Support Services and Offices (N & S)
HIGH-END DIAGNOSTICS
(August 2006)
ƒ GP & Specialist Consults
ƒ Full Diagnostics (incl. MRI/CT)
ƒ Neurology (EEG and EMG)
ƒ Preventive Health and Chronic Care
ƒ Physiotherapy
ƒ Minor Procedures and Emergencies

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 Fact Sheet
Revenue (9M’FY07) US$ 39 Mn, 90% y-o-y growth
Occupancy 59% (quarter ended Dec’06)
Employees 2100
Physicians 1000 (includes over 350 on Rolls)
Corporate Clients 425
Patient Base Over 400,000
Patient Transactions Over 100,000 per month
Beds 850
ICU Beds 200
OTs 21
Cathlabs 3
MRIs 4
CTs 5

Medical/Clinical Collaboration with Singapore General Hospital

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Upcoming Facilities

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 Upcoming Facilities

n Max Hospital – Gurgaon

n 100 bed Hospital with 2 OTs

n Tower Specialties to include:
ƒ Ophthalmology (Anterior and Posterior)
ƒ Woman & Child (including Infertility)
ƒ Orthopaedics
ƒ Nephrology and Urology
ƒ Plastic and Reconstructive Surgeries
ƒ General and Minimally Invasive surgeries
ƒ Launch by June 2007

n Clinics & Referral tie-ups at key locations for patient flow into
hospitals

9 Centres in and around Delhi/NCR by 2009 with a capacity of 1500-1600 beds

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 Second Phase of Expansion
NCR Outside NCR
Max Balaji Hospital – Patparganj Max Hospital – Dehradun
Tertiary Care High-end Secondary Care
n 250-300 Inpatient beds with 6 OTs and 1 n 100 Inpatient beds – Before end of 2008
Cathlab – Before end of 2008 n Emergency & Trauma care
n Tower specialties to include: n Non–invasive Cardiology
ƒ Oncology n Joint Replacement & Orthopaedics MIS
ƒ IVF n All support Specialities
ƒ Orthopaedics & Joint Replacement
ƒ Neurosciences
ƒ Cardiac Care
ƒ Critical Care

Max Hospital – Saket South Block

Tertiary Care
n 85 Inpatient beds with 2 OTs – April 2009
n Obstetrics & Gynaecology
n Paediatrics

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 Max Healthcare – Outlook

Revenue
152
141

126

98
US $ Million

77

54

30

11

FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12

Cash Breakeven by FY 09

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 Max Healthcare
Project Cost and Funding
Phase – 1
n Max India – Promoters
Equity ƒ Current – $37 Mn
ƒ Future – $23 Mn
n Warburg Pincus – $31 Mn
US$ 95 million n Other Foreign Investors – $4 Mn
Project Cost

US$ 156 million

Debt n HDFC – $23 Mn
n Other Indian Banks and
Financial Institutions – $38
US$ 61 million Mn

Debt – Equity Ratio: 0.64

Second Phase of Expansion to cost US$ 45 Mn

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Max New York Life Insurance

www.maxnewyorklife.com

27
 Max New York Life Insurance [ MNYL]
n Joint Venture between Max India and New York Life International [ NYL ]

n NYL, one of Fortune 100 companies provides insurance domain expertise

n NYL is one of the oldest mutual life insurance company in the US with over $200
billion in assets under management

n Max India contributes local market understanding and managing regulatory

environment
n Robust business performance – Peak equity investment to be $222 Mn

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 MNYL road map to becoming
India’s most admired Life Insurance Company
Key Public Messages VISION Become the most admired Life Insurance Company in India

ƒ A trusted life insurance specialist

ƒ Part of top quartile new Life Insurance Companies
ƒ Customer centric ƒ National Player
ƒ Financially responsible and strong ƒ Brand of FIRST choice
MISSION
ƒ A great place to work ƒ Employer of Choice
ƒ An admired member of the community ƒ Principal of Choice for Agents

Key Differentiators 1 Billion $ in Premiums in 10th year

ƒ Financial Strength & Security
ƒ Quality of agents
ƒ Flexible Products
ƒ Service Excellence
ƒ Fair Terms of Business
GOALS IRR–20% plus; Dominate MDRT in
India; Profitable by 2008
WHAT – Comprehensive suite of products,
KEY
competitive pricing, extensive distribution,
OBJECTIVES persistency, customer service excellence,
profitable portfolios

HOW – Talented People, Professional & Productive Agents,

STRATEGIES Performance Metrics, Leverage Technology, Teamwork, Customer
Centric, Innovative Distribution and Marketing

What-When-Who-How-Cost linkage plans at Departmental and Individual

INITIATIVES levels

VALUES & BELIEFS OPERATING PRINCIPLES METRICS & PERFORMANCE MGMT

ƒ Excellence ƒ Caring
ƒ Honesty ƒ Integrity
ƒ Knowledge ƒ Teamwork
STANDARDS PROCESS
ƒ Customer comes first
ƒ International quality standards ƒ Input
ƒ GMPR Ratings
ƒ Do it right the first time ƒ Output
ƒ TEC/TTR – Templates
ƒ Fact based decisions ƒ External
ƒ Primary, Shared and
ƒ Bias for result oriented action ƒ Internal
Contributory
ƒ Financial strength & discipline ƒ Absolute
ƒ Balanced scorecard
ƒ Direct and open communication ƒ Ratios
ƒ Core, Functional and
ƒ Respect Max & NYLI values & parentage Leadership Competencies
ƒ Fun at work

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 MNYL – Board of Directors
Mr. Analjit Singh Chairman

Mr. B Anantharaman Joint Managing Director, Max India Limited

Mr. N. C. Singhal

Mr. Rajesh Khanna Warburg Pincus

Mr. Joseph Gilmour

Mr. Fred Sievert

Mr. Anuroop Tony Singh

Mr. Ravi Akhoury

Mr. Gary R. Bennett Chief Executive Officer & Managing Director

Mr. Sunil Sharma Executive Director & Chief Operating Officer

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 Indian Life Insurance Industry
An Opportunity

Strong Growth to be driven by… Life insurance premium as % of GDP 11.2

8.9
8.3 8.6
7.1 7.3

n Low Penetration Level 6.0

4.1
3.5 3.6
3.1
2.5
1.8 2.0
1.3
n Increasing Per Capita Income

United States

South Korea

Hong Kong
Singapore
Thailand

Germany

Malaysia
China

Australia
India

Japan
France

Taiwan
Brazil

UK
n Increasing Awareness

Premium per capita ($) adjusted for PPP 2,798

n Better Distribution 2,337
2,471
2,079
1,6721,677 1,732
1,343
n Availability of Multiple Products 883

411
88 115 143

United States
Increased Life Expectancy

South Korea

Hong Kong
Singapore
Malaysia
Germany
n

China

Australia

Japan
India

France
Brazil

UK
Strong GDP growth to further expand the industry potential

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 MNYL’S Strategy to build a Strong
Life Insurance Business
1) Full Suite of products with a focus on protection
n Long Tenor products (Average Tenure – 25), Young customer base (Average Age – 34)

n Unit Link contributes over 67% of total sales of the Company for the period Jan’06 – Dec’06

n Ranks 3
rd amongst private players in terms of number of policies sold

ƒ Sold over 1.3 Mn policies since inception

2) Build best in class agency

n Productivity higher than the competition
n Comprehensive in-house training (over 200 trainers)
n Over 400 hours of training
n Amongst top global MDRT in 2006 with around 350 agents qualifying for the league

3) Wide geographic coverage

n 132 offices across 94 locations
n 121 new agency offices planned by 2008
n Multi-level marketing alliances continues to perform well… working at over 300 locations
n MNYL to focus on developing alternate distribution channels having wide reach and
deep-rooted distribution network
n Partnership with 17 banks, current access covers 450+ branches across 50+ locations

32
 MNYL’S Strategy to build a Strong
Life Insurance Business
4) Among the top private Indian life insurers with paid up capital base of $157 Mn

5) Strong quality orientations to business

n First life insurer to be awarded the ISO 9000 : 2001 certification
n 6 sigma program underway
n Balanced scorecard approach
n Good Audit & Compliance orientation

6) Strong customer trust and credibility

n Balanced investment approach with a very long term view

ƒ 64% of traditional portfolio consists of long tenor government paper

ƒ 29% in AA+ and better corporate bonds
n Equity portfolio performance better than the benchmark*
n No asterisks in advertising
n Honest illustration
ƒ Controlled centrally
ƒ Sent along with policy

7) High embedded value / appraisal value creation

*Benchmark Index: CNX 500 33

 Protection Oriented, Longer Tenor
Life Insurance
PROPORTION OF Tenure Age of Insured
PRODUCT TYPE POLICIES (%, by (Years) (Years)
number)

WHOLE LIFE 25 40 36

ENDOWMENT 18 24 26

TERM 4 22 37

DEFERRED 1 17 42
ANNUITY

MONEY BACK 22 12 37

UNIT LINKED 30 23 35

25 34
As on Dec 31, 2006 MNYL Average MNYL Average

34
 Market Position – 2006-07
Insurance Sales (US $ Mn)

Individual New Business Policies (‘000)

Company
Premium (Apr'06-Dec'06) (Apr'06-Dec'06)

ICICI Prudential 511 1145

Bajaj Allianz 321 928
HDFC Standard Life 168 284
SBI Life 134 293
Max New York Life 117 5 386 3
Aviva 93 188
Birla Sunlife 93 208
Tata AIG 80 283
Reliance Life 74 220
All Others 166 361

Total Private Life Insurers 1757 4296

MS of Private Players (%) 30 22

Source: Insurance Regulatory & Development Authority, Adjusted to include only 10% of Single Premium
All Others include: Kotak Life, ING Vysya, Metlife, Shriram Life, Sahara, Bharti AXA, 1 US$ = Rupees 45 35
 Established Ourselves amongst the
Leading Agency Sales Force
Adjusted Single premium
New Business
Apr - Dec 2006 Agents Premium per Agent * ($) Cases per Agent *
(Agency) (US$ Mn)

358 130,000 306 0.8

209 109,000 213 0.7

93 Rank 3 17,490 590 Rank 1 1.6 Rank 1

92 65,000 158 0.3

67 25,000 297 0.6

62 30,000 232 0.7

46 11,000 466 1.1

45 12,500 404 0.7

39 21,500 202 0.4

36 35,000 114 0.4

33 14,000 260 0.5

15 10,000 169 0.3

* In terms of highest new business premium (Agency)

Source: IRDA Journal, media reports and team inputs 36

 MNYL Footprint
31 Offices

Dedicated to Rural
Business Punjab
Wide Reach Established
Chandigarh HO
Dehradun
Gurgaon
Faridabad
Jaipur Delhi
Noida
Meerut Dehradun
Jodhpur
Udaipur Karnal
Kanpur Siliguri
Lucknow
Gwalior Guwhati
Ahmedabad Varanasi
Rajkot Baroda Bhopal Patna
Indore Jamshedpur Asansol
Bhavnagar
Surat Nagpur Ranchi Kolkata Actual customer
Vapi
Mumbai base spread
Kohlapur Nasik Bhubaneswar
Aurangabad Raipur over 200 cities
Thane
Hyderabad
Pune Rajahmundry
Visakhapatnam
Vijaywada
Panaji Cities Offices
Bangalore Chennai
Own 87 122
Mangalore
Franchisees 7 10
Coimbatore
Overall 94 132
Madurai Presence
Cochin

Trivandrum

37
 Max New York Life Insurance

Quarter Ended Year Ended YoY

Key Business Drivers Unit
Dec-06 Dec-05 Dec-06 Dec-05 Growth

a) Sales Value (Annualized first year premium) US$ Mn 66.30 36.64 186.47 95.08 96%

b) Average case size US$ 570 369 452 349 30%

c) Case rate per agent per month No. 1.68 2.29 1.76 1.84 -5%

d) Number of agents No. 20,987 13,476 56%

e) Net agents added No. 2,205 1,274 7,511 6,568

f) Conservation ratio % 80.06% 80.41%

g) Gross written premium income US$ Mn

First year premium 50.05 23.96 147.43 75.79 95%
Renewal premium 37.67 22.05 109.00 60.36 81%
Single premium 12.64 4.59 24.78 6.08 308%
Total 100.35 50.61 281.20 142.23 98%

h) Paid up Capital US$ Mn 146.10 117.20 25%

i) Individual Policies in force No. 958,229 607,652 58%

j) Sum insured in force US$ Mn 8,215 5,227 57%

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Neeman Medical International

www.neeman-medical.com

39
 Neeman Medical International
Contract Research Organization (CRO)

Neeman Medical International is a value added Clinical Research Service

Organization. Neeman’s goal is to provide highly competent GCP/ICH
compliant Investigators in several geographies, who have access to patients
and dedicated Clinical Research Coordinators. This allows Neeman to
accelerate patient enrollment and generate high quality data

Neeman Medical International – Service offerings include

n Site Management
n Project Management
n Data Management, includes Bio-Statistics and Report Writing
n Monitoring Services
n Clinical Trial Material Supply Chain Management Services

40
 Neeman Medical International
Business Highlights
n 6 out of top 10 pharma companies are Neeman’s customers
ƒ Phase – IV award in the Data Management space from one of the top 3 pharma majors.

n Discussions underway with pharma majors for making Neeman a preferred service
provider
ƒ Preferred provider relationship with 3 Pharma majors in place

n Alliances with CROs in Europe for business expansion

n Client base doubles up from 14 to 28

n Number of awards swell 177 % from 22 in previous year to 61 up to Dec’ 06

n Order Book pipeline of over $6.5 Million

n Network of 600 GCP/ICH Principal Investigators with access to 25,000 beds and 6-8
million patients

n Impressive operating standards

ƒ Successfully completed 4th US FDA-GCP audit for highest enrollments
ƒ Patient retention rate continues to be over 98%

n Favorable Patent Regulations in India to catalyze exponential growth

41
Neeman – Select List of Partners

42
Max HealthStaff International

www.maxhealthstaff.com

43
 Max HealthStaff International
Max HealthStaff International Limited is an international healthcare staffing
company, founded on world-class quality and service excellence.

It is committed to becoming India's leading healthcare staffing company,

offering professionals to healthcare institutions in India and abroad.

Big Gap in Demand/Supply of Healthcare Resources in US, particularly

nurses…projected to increase further

US Supply and Demand Projections for

Registered Nurses 2000 to 2020
ƒ Current Shortage of Nurses: 200,000
ƒ Increasing every year – Expected to be
over 400,000 by 2008 and 850,000 by 2020

ƒ Shortage of allied healthcare staffing

resources such as occupational and
physical therapists, pharmacists,
radiographers etc. estimated to be more
than 360,000 by 2008

44
 Max HealthStaff International
n First of its kind large scale corporate business initiative in India for providing end to
end placement solutions. Has begun placement of nursing staff, will soon expand
into other allied healthcare resources

n Annuity based revenue model with cash inflows expected for periods upto 36
months for each placed candidate

n 6 Sourcing and Training Centers across Delhi, Chandigarh and Kerala

ƒ Chennai sourcing and training centre to commence operations soon

n Customer Profile
ƒ Leading Healthcare staffing companies, including publicly listed companies in US
ƒ Non-exclusive contracts provides sufficient operational and strategic flexibility to the
business

n 50 Nurses already placed in the US – Established proof of concept

n Over 600 nurses in pipeline… growing rapidly

ƒ Over 100 NCLEX-RN cleared nurses in the pipeline
ƒ NCLEX results at 85% – best in the Industry

n Monthly revenue rate of USD 60k…expected to grow continuously

n Currently focusing on US, will expand to Middle East shortly

45
Max Speciality Products

46
 Max Speciality Products
Manufacturer / Supplier of Niche (high contribution) and High Barrier
Speciality polymer films.
n Capture value by producing Value Added products
n Long term relationship with Blue chip customers in FMCG sector
n Pioneer in introduction of new products / technology in India
n Has a footprint in select export markets
n Industry CAGR of 20%

n Generates revenue of $30 Mn and PBT of $2Mn for FY 05-06

ƒ Revenue from BOPP business at $28 Mn, grows 7%
ƒ Revenue from MaxFoils at $2 Mn, grows 42%

n EBITDA to net sales at 14%

n Expansion Underway…
ƒ 3rd Metalliser commissioned ahead of schedule in August’06, currently running at
80% capacity
ƒ New BOPP capacity expansion – 20,000 TPA in advanced stage of implementation
and currently on schedule – to be operational in first quarter FY07-08
ƒ Expansion to cost $27 Mn…Funded 66% through debt
47
Thank You

48