Spicejet - Acquisition under Regulation 22 (17) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 19

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KAL Airways Private Limited ("KAL Airways")has informed BSE that, pursuant to Regulation 22 (17) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 (the "SEBI Takeover Regulations"), KAL Airways have, on October 18, 2010, purchased 9,224,000 equity shares constituting 2.28% of the equity share capital of SpiceJet Limited at a price of Rs. 47.25 per equity share through an off market transfer as per details given in attached Annexure 1. The acquisition is pursuant to the share purchase agreement dated June 12, 2010 executed amongst SpiceJet Limited, WLR Recovery III (India) Limited, WLR Recovery IV / ESC (India) Limited, India Asset Recovery Fund Limited, WLR / GS (India) Limited and KAL Airways.

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