Notifiable Interest

India Outsourcing Services PLC
27 March 2007

                 India Outsourcing Services PLC ('the Company')

                              Notifiable Interest



A form TR-1 containing the following information has been received by the
Company.

TR-1 notification of major interests in shares

1. Identity of the issuer or the underlying issuer of existing shares to which
voting rights are attached:

India Outsourcing Services PLC

2. Reason for the notification

Initial disclosure

3. Full name of person(s) subject to the notification obligation:

First State Investment Management (UK) Limited

4. Full name of shareholder(s) (if different from 3):
Shares Held           Nominee
366,081               Vidacos Nominees Limited as nominee for First State Investments AIM VCT plc
150,000               HSBC Global Custody (Nominee) UK Limited as nominee for FSGUF UK Growth Fund
258,954               Vidacos Nominees Limited as nominee for FS British Opportunities Fund, sub-fund of
                      First State Investments ICVC

5. Date of the transaction (and date on which the threshold is crossed or
reached if different):

N/A

6. Date on which issuer notified:

19 March 2007

7. Threshold(s) that is/are crossed or reached:

5%

8. Notified details:

A: Voting rights attached to shares
Class/type of      Situation previous to Resulting situation after the triggering transaction
shares             Triggering
                   transaction           Notification required under DTR transitional provision 7
if possible using
ISIN CODE
                   Number of  Number of  Number of  Number of voting rights % of voting rights
                   Shares     Voting     shares
                              Rights

                                         Direct     Direct     Indirect     Direct     Indirect


Ordinary shares                                                775,035                 8.1761%

B: Financial Instruments
Resulting situation after the triggering transaction


Type of financial Expiration date     Exercise/           Number of voting       % of voting rights
instrument                            Conversion Period/  rights that may be
                                      Date                acquired if the
                                                          instrument is
                                                          exercised/ converted


N/A

Total (A+B)
Number of voting rights                              % of voting rights


775,035                                              8.1761%



9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:

N/A

10. Name of the Proxy holder:

N/A

11. Number of voting rights proxy holder will cease to hold:

N/A

12. Date on which proxy holder will cease to hold voting rights:

N/A

13. Additional information:

First State Investment Management (UK) Limited is appointed as investment
manager by and entitled to exercise voting rights on behalf of the shareholders
listed in attached schedule.

All voting rights held on behalf of the above entities are aggregated for the
purposes of DTR 5.2.1(e) and disclosed pursuant to DTR 5.2.5.



14. Contact name:

Gilliam Davies / Bridgette Roche

15. Contact telephone number:

0131 473 2200




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