Sahara One Media - Limited Review For The Quarter Ended Sep 30, 2007

Sahara One Media & Entertainment Ltd has informed that in the limited review report of the Company for the quarter ended September 30, 2007, the Auditors of the Company have made the following observations:

The Companys current assets as at September 30, 2007 include loans and advances aggregating to Rs 6.73 crores outstanding for more than 3 years for acquiring television and film content and sundry debtors of Rs 2.14 crores outstanding for more than 1 year. These balances have not been confirmed as at September 30, 2007 nor have these been adjusted or utilized at that date. In the absence of sufficient and appropriate evidence, the auditors are unable to express an opinion on extent of non recoverability of these balances and their consequent impact, if any, on the Companys profit for the three months ended September 30, 2007.