Calsoft Announces Appointment Of New Chairman

Mr. Clyde Michael Bandy appointed as Chairman of California Software Company Ltd

Chennai, 11th February, 2008- California Software Company Limited (Calsoft) listed in India at NSE (cali.ns) and BSE (cali.bo), is pleased to announce the appointment of its new Chairman, Mr. Clyde Michael Bandy with immediate effect. Mr. Bandy was elected to undertake the position following the sudden demise of the former Chairman Mr. Robert V Chandran (Founder & Chairman of Chemoil) in a tragic copter crash on January 7, 2008. Mr. Bandy had been associated with Chemoil since August 31, 2006 as a Lead Independent Director. He was unanimously elected as the Chairman & Chief Executive Officer of SGX Mainboard listed Chemoil (SGX-ST: CHEL.SI) recently.

Prior to these assignments, Mr. Bandy, 59, has held a number of significant leadership positions of multinational companies. In 1997, after 27 years with Texaco, Mr. Bandy was appointed as President and Director of Fuel and Marine Marketing LLC (FAMM), a joint-venture company of Texaco and Chevron. FAMM is a major supplier of marine fuels and lubricants. During the merger of Texaco and Chevron in 2001, Mr. Bandy was selected to lead the integration of the two companies’ trading platforms, and served as President of Global Trading at Chevron until his retirement in 2004. At the request of the major shareholders, Mr. Bandy remained Chairman and Independent Director of the global marine fuels exchange OceanConnect.com until 2006.

Mr. Bandysaid, “I take on the role with a commitment to the vision that Bob Chandran had for Calsoft. I am sure this will be a rewarding journey”

Mr. S (Sam) Santhosh, CEO and MD, Calsoft said, “We welcome Mr. Bandy. I am certain that Calsoft would gain from his rich experience and track record of securing outstanding growth within multinational companies”.

For further details,

N Anita

Manager - Corporate Communications
Ph: +91 44 4282 9000

anitan@calsoftgroup.com

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