EROS INTERNATIONAL MEDIA LIMITED

CORPORATE PRESENTATIONCORPORATE PRESENTATION

NOVEMBER - DECEMBER 2010

Safe Harbour

Certain statements in this document may be forward‐looking statements. Such forward‐

looking statements are subject to certain risks and uncertainties like government actions,

local political or economic developments technological risks and many other factors thatlocal political or economic developments, technological risks, and many other factors that

could cause our actual results to differ materially from those contemplated by the relevant

forward‐looking statements. Eros International Media Ltd. (Eros International) will not be in

any way responsible for any action taken based on such statements and undertakes noany way responsible for any action taken based on such statements and undertakes no

obligation to publicly update these forward‐looking statements to reflect subsequent events

or circumstances.

2

Table of Contents

Section I: Company Overview

Section II: Financial SummarySection II: Financial Summary

Section III: Q2 & H1 FY2011 Operational & Financial HighlightsHighlights 

Appendix: Additional Information

Section ICompany Overview

Overview of Business

Th b i f d d b M A j

History Eros India Group Business Model

• The business was founded by Mr. ArjanLulla in 1977

• Part of Eros Group, a global player within the Indian media and entertainment 

t f i t l th l t 30

SourcingContent

NewInitiatives

End‐to‐EndDistribution

sector for approximately the last 30 years

• Eros Plc (AIM listed) is one of the promoters of the company

Content Library:Hindi, Tamil 

Other RegionalFilms

India 

Theatrical

InternationalSales 

(Licensingthrough theRelationship

EyeQube Studios (Production 

Planning and VFX)

• Exclusively sources all Indian film content for the Eros Group 

• Exploits and distributes the content through multiple formats 

Acquisition/Output Deals

Digital New

Satellite, Terrestrial TV 

& Cable

RelationshipAgreement to 

Eros International 

Group)

EMI tie‐up 

Universal JVA

• Owns valuable library of over 1,000 films which include Hindi, Tamil and other regional language films

• Business model built around contentCo‐production/ Production

Digital New Media / Home 

Entertainment

Universal JVA

Business model built around content and distribution 

Music

5

Largest Indian Film Studio

Biggest and Best Bollywood Content Library Built through 

Co‐production and Content AcquisitionCo production and Content Acquisition

Home TV S di iNew

Theatrical ReleaseHome 

EntertainmentTV Syndication 

New Media

• Single and multiplex 

• DVD, Blu‐Ray • Video on Demand (VOD)

• Licensing deals with TV stations

• Mobile (ringtone, wallpaper)

Core Business

screens in India and internationally

• Subscription Video on Demand (SVOD)

• Music

- Terrestrial- Satellite- Cable

• Internet  (YouTube)• Internet Portal TV (IPTV)

O t t diR f

EyeQube Music Publishing

Ancillary Business

• Outstanding Bollywood music library

• Music publishing• Access to EMI world library

• Revenue from outsourcing contracts of VFX (Visual Fixation), special effects, animation etc

library

6

Growing Addressable Market …..

Why India  ‐ Entertainment & Media

• Over 1,000 movies released annually (largest in the world)

• 3.2 BN movie tickets sold annually (largest in the world)world)

• 80 Million pay‐tv homes (3rd largest in the world)

• 119 Million TV households

• Over 500 Million mobile subscribers (2nd largest in h ld)the world)

O t id f I di th C ’

Creating a global platform for Indian Films

• Outside of India, the Company’s consumers comprise other expatriate communities of South Asians

• Eros International dubs in over 27 languages to non South Asian territories such as: Germany PolandSouth Asian territories such as: Germany, Poland, Indonesia and Malaysia where the films are dubbed in their local language

7

Growing Addressable Market…

Population Distribution Across Age‐Groups Share of Wallet to Discretionary ItemsPopulation in % %

100%100%

5

6

14

1212

33

3

89

11

1117

1920

3

69

9 13

2432 65

1 74

50%

75%

100%

27 27 27 27

25 24 25 27

15 16 18 19

50%

75%

100%

5642 34

25

55103

0%

25%

1995 2005 2015F 2025FF d d B A l H i d Utiliti

34 33 30

27 27

270%

25%

2000 2005 2010 2015

Media and Entertainment Sector Poised for Growth

Source : FICCI‐KPMG Report

Food and Beverages Apparel Housing and UtilitiesHousehold Products Personal Products and Services TransportationCommunication Education and Recreation Healthcare

<15 Years 15–30 Years 30–50 Years >50 Years

• Indian media industry has been one of the fast growing sectors in the economy, on the back of:

‐ Young India’s propensity to spend on discretionary entertainment 

‐ Rising per capita income levels ($442 in FY2003 to $747 in FY2008; CAGR of 7 2%)‐ Rising per capita income levels ($442 in FY2003 to $747 in FY2008; CAGR of 7.2%)

• The growing Media and Entertainment sector and improving technologies like Digital screens, VOD and Blu Ray output formats augur well for Eros InternationalSource : FICCI‐KPMG Report

8

…Leading To Strong Growth Drivers

25

Size of Indian M & E Industry$ Bn

3 0$ Bn

Content Library &1

Size of Indian Film Industry

10.0

13.111.8

13.915.9

17.8

20.4

12.6

10

15

20

25

1.8

2.42.1 2.1

2.22.4

2.7

1.9

1.5

2.0

2.5

3.0 Content Library & Distribution

Indian Box Office2

0

5

10

2006 2007 2008 2009E 2010P 2011P 2012P 2013P

0.0

0.5

1.0

2006 2007 2008 2009E 2010P 2011P 2012P 2013P

Television Syndication

Di it l N M di

3

4

1.81 7

1.82.0

2.0

2.5

1 0001,120

1,2541,4051,500

Digital New Media

Regional Opportunity5

Domestic Theatrical Market Number of Multiplex Screens$ Bn #

1.41.6 1.6

1.7

1.5

0.5

1.0

1.5

410520

747

1,000

850

500

1,000

Eyeqube VFX Studio

Eros Plc Relationship

6

7

0.0

2006 2007 2008 2009E 2010P 2011P 2012P 2013P

0

2006 2007 2008E 2009P 2010P 2011P 2012P 2013P

Eros Plc Relationship

Source : FICCI‐KPMG Report (2010)Note1. INR/USD rates are as on Dec 31st of each year2 F f ll f d d 46 8 INR/USD2. Fx rate for all future dates assumed at 46.8 INR/USD

9

Valuable & Expanding Content Library

Content Library: Key Competitive Advantage

• The film library includes:

‐ Rights to over 1000 films including Hindi, Tamil and other regional language films

• Diversified, balanced product mix of both co‐productions and acquisitions

B dli d l fl t tf li t t• Bundling model reflects portfolio strategy‐allows licensing old catalogue films with new and licensing blockbusters with less successful films

• Ability to exploit old content on new emerging platforms

• A large library provides stable,  recurring cash flows and de‐risks the business modelcas o s a d de s s e bus ess ode

10

End‐to‐End Distribution

India Theatrical International Rights 

• Relatively high percentage of a film’s domestic theatrical revenues come from the first week of release

• Distribution strategy

• International distribution rights transferred to Eros International Group

• Eros International Group offers advantage of experience and advantage in Indian film• Distribution strategy

‐ Sufficient prints released

‐ Increasing focus on digital prints for reach and cost advantages

experience and advantage in Indian film content distribution globally

• Sale of rights at minimum of

‐ 30% cost of film + 30% mark‐up

‐ Established relationships with all multiplex chains and single screen cinemas

• Collection of Advances and Guarantees

30% cost of film + 30% mark up

‐ Provides certainty to cash flows 

• Eros International Group markets the Indian film content internationally across all formats

• Offices across  key markets enable greater control over distribution 

• Increased margins through self‐distribution 

• Distribution network allows tailoring of• Distribution network allows tailoring of marketing arrangements for each local market

11

End‐to‐End Distribution

TV / Satellite Rights

• Syndication and licensing 

Digital New Media 

• Home video release after 2007 2012 ’07‐’12 CAGR

T t l TV h h ld 115 132 3%

Indian TV Market Size

of content to domestic Satellite Channels

• Focus on pre‐selling and portfolio bundled deals 

4 ‐ 12 weeks of theatrical release

• Bundling model whereby it realizes better value for 

Total TV households 115m 132m 3%Pay Cable households 70m 90m 5%Pay DTH households 3.5m 25m 48%

with broadcasters

Music Rights

S l ti l l it

films

• New distribution formats like Blu‐Ray / HD 

• License airborne rights to

Subscription Revenues $3.4B $9.5B 23%Advertising Revenues $2B $5B 20%

• Selectively exploit or license music rights of films

• Digital exploitation th h

License airborne rights to certain airlines for in‐flight viewing

• Distribute content such as mobile ring tones,226

260250

300

Domestic  Music Market ($m)

Size

through telecommunication platforms

• Licensing songs to radio d t l i i h l

as mobile ring tones, wallpapers and downloads 

• DTH licensing

IPTV li i

164179

198

100

150

200

and television channels

• Collection of royalties from public performance of these songs

• IPTV licensing

• Cable licensing0

50

2009 2010E 2011E 2012E 2013E

Source: 2010 FICCI – KPMG report Note: Converted to US$ at year average exchange rates for historical

years and an exchange of US$/INR rate of 44.5450 for forecasts

12

Portfolio Approach to Film Distribution

Portfolio Approach Strategy

• Combine films across budget categories into a single portfolio and market to distribution platforms

olio

A

Bundled• Combine new releases and Eros 

India Library content into a single portfolio and market to distribution platforms

Portfo B

C

BundledPortfolio

• Portfolio approach to film distribution 

‐ Enables monetization of content h h di ifi d di ib i

NewR l

C

through diversified distribution platforms

‐ Reduces reliance on box‐office success of individual films

Releases

Library

Portfolio Bundled

Portfolio

‐ Enables scalability and  helps diversify the revenue mix

13

Diversification into Tamil and Regional Language Films

Tamil Films : Ayngaran

• Acquired 51% stake with  • Presence in other select regional

AyngaranOther Regional Language Films

Acquired 51% stake with effect from 2008

• Investment intended to accelerate Ayngaran’s

Presence in other select regionallanguage film markets

‐ Marathi

‐ Punjabi

Domestic SalesInternational

Sales

y ggrowth and consolidation of Tamil film market 

• Ayngaran is an established 

• Distribution of “Mee Shivaji RajeBhosle Boltoy”.

DomesticTheatrical

TV Syndication

DomesticTheatrical

TV Syndication

player in Tamil content and distribution business 

• Catalogue of over 600 films  Hindi23%Bhojpuri

Others11%

Home Entertainment 

Home Entertainment 

Market Share: No. of Releases

including “Alaipayuthey”, “KandukondainKandukondain”

Tamil13%

Malayalam8%

Marathi8%

jp6%

AyngaranInternational 

(India)

AyngaranInternational 

(UK & 

Telugu21%

Kannada10%

(India)Mauritius)

Source : FICCI‐KPMG Report (2009)

14

New Initiatives

• Visual effects facility studio at Mumbai set‐up in2007

Eye‐Qube: VFX InitiativeDomestic Animation & VFX Market ($m)

• Creative Director is Charles Darby, VFX expert.

• Key work of EyeQube Studios include Drona,Aladin, Veer & Madras Patnam & MajorHollywood studio work.629

741

876

800

1,000

Other Initiatives

Universal 

E I t ti l d U i l M i I di

413516

200

400

600

• Eros International and Universal Music Indiaentered into a 50:50 JV dated 18 Nov 2008

• Artist management company—identifying,developing and promoting TV/movie friendlymusic talent

02009 2010E 2011E 2012E 2013E

Source: 2010 FICCI KPMG report music talent

• Providing music and entertainment consultingand marketing services

EMI

Source:  2010 FICCI – KPMG report Note:  Converted to US$ at year average exchange rates for historical years and an exchange of 

US$/INR  rate  of 44.5450 for forecasts

• Eros Music UK has a strategic tie‐up with EMI

• EMI has assigned rights for administering andcollecting the music publishing royalties for EMI‘sdi l i bli hi iIndia catalogues to Eros Music Publishing Private

Limited

15

Leadership: Board of Directors

Mr. Naresh Chandra, Non‐executive Chairman and Independent Director

• A former civil servant, an IAS officer since 1956. In 1990 he became Cabinet Secretary,  in 1992 he was appointed Senior Advisor to the Prime Minister of India 

Mr. Kishore Lulla, Executive Director

• He has over 20 years of experience in the media and film industry. A member of the BAFTA and Young Presidents’ Organisation and also a board member of the University of California Los Angeles (“UCLA”) Has been honoured at the Asian

and served a Ambassador of India to the United States of America in 1996‐2001. He is also director of various companies including Vedanta Plc

Dr. Shankar Nath Acharya, Non‐executive and Independent Director

University of California, Los Angeles ( UCLA ). Has been honoured at the Asian Business Awards 2007 and the Indian Film Academy Awards 2007 for his contribution in taking Indian cinema global

Mr. Vijay Ahuja, Additional Executive Director

• He worked in the World Bank  from 1971 ‐1982. In India, he served as economic advisor to the Union Finance Ministry from 1985–90. From 1993 to 2000 he was chief economic advisor to the Government of India. He also served as member, SEBI during 1997–2000

• He co‐founded the Eros International Group's UK business in 1988 and has since played an important role in implementing the key international strategies of the Eros International Group, helping expand the business to its present scale by making a significant contribution to developing the South East Asian markets for Eros, such as Singapore, Malaysia, Indonesia and Hong Kong. 

Mr. Dhirendra Swarup, Additional Non‐executive Director

• He was a member of the Board of the SEBI, and a member of the Permanent High‐level Committee on Financial Markets between July 2005 and December 2009. A former civil servant, he retired as Secretary, Ministry of Finance, Government of 

Mr. Sunil Lulla, Executive Vice‐Chairman

• He has over 20 years of experience in the media industry. He has been instrumental in developing the Eros India Group. Has valuable relationships with the talent within the Indian film industry and has been instrumental in our Company’sf , y, y f , f

India in 2005, and has approximately 42 years' experience in finance, public policy, public investments, project appraisal and programmes of the Government of India

within the Indian film industry and has been instrumental in our Company s expansion into India distribution as well as home entertainment and music

Ms. Jyoti Deshpande, Executive Director

• She has over 16 years of experience in the media and entertainment industry. HasShe has over 16 years of experience in the media and entertainment industry. Has previously worked in advertising with J. Walter Thompson, India before moving to the UK in 1997 where she was a senior consultant with MindShare. She has been with the Eros International Group since 2001 and was instrumental in helping Eros plc list on the AIM

16

Leadership: Key Management Personnel

Mr. Kamal Jain, Group Chief Financial Officer‐India

• He is a chartered accountant with 17 years of professional experience in varied industries such as media and entertainment cement chemical shipping and SAP

Mr. Ram Mirchandani, Chief Creative Officer

• He has completed his bachelors degree in science from Jai Hind College, Mumbai. He has approximately 21 years of experience in the industry. Prior to joining Eros, he was the chief creative officer of UTV Rampage Motion Pictures (UMP plc)industries such as media and entertainment, cement, chemical, shipping and SAP 

consulting. Prior to joining Eros, he was working with DNA, an Essel and Bhaskargroup joint venture. He has earlier worked with Percept Group and the Swiss multinational Ciba Specialty. 

he was the chief creative officer of UTV Rampage Motion Pictures (UMP plc). Prior to that, he has been business head at a JV of Modi Entertainment and BVTI (a Walt Disney company) and several positions within the Modi Group including development, co‐production and production of television shows for Doordarshan, Zee TV, Sony, Star TV, Walt Disney and Hallmark.

Mr. Rajesh Bahl, Chief Digital officer

• He completed his bachelors degree in commerce from Mumbai University, followed by a post‐graduate diploma in business administration in marketing from Somaiya Institute of Management Studies and Research, Mumbai, and has 

Mr. Kumar Ahuja, Senior Vice President (Business Development)

• He has approximately 10 years of work experience. He represents Eros in all i t ti l fil f ti l d l th ’ b if y f g , ,

12 years of work experience. Prior to joining Eros, he has worked with Star India Limited, Universal Music & Sony Music Entertainment Limited. 

international film festivals and also manages the company’s new business development  initiatives .

Mr. Nandu Ram Ahuja, Senior Vice President (India Theatrical)

• He has approximately 29 years of work experience including prior work experience with Adlabs Films Limited and Balaji Motion Pictures Limited.

17

Major Hindi Releases FY2011‐12

Film Name Star Cast Director Tentative Release 

No Problem Anil Kapoor, Sanjay Dutt, Akshaye Khanna Aneez Baazmee FY 2011

Toonpur Ka Superhero Ajay Devgan, Kajol Kireet Khurana FY 2011

Game Abhishek Bachchan, Kangana Ranaut Abhinay Deo FY 2011

Always Kabhi Kabhi Zoa Morani Roshan Abbas FY 2011

Mausam Shahid Kapoor, Sonam Kapoor Pankaj Kapur FY 2012

Chalo Dilli Lara Dutta , Vinay Pathak Prashant Shah FY 2012

RA.One Shah Rukh Khan, Kareena Kapoor, Arjun Rampal Anubhav Sinha FY 2012

Zindagi Na Milegi  Hrithik Roshan, Katrina Kaif, Farhaan Akhtar, Abhay Deol Zoya Akhtar FY 2012

Dobara

18

Major Hindi Releases FY2012‐13

Film Name Star Cast Director Tentative Release 

Agent Vinod Saif Ali Khan,  Kareena Kapoor Sriram Raghavan FY 2012

Desi Boyz Akshay Kumar, John Abraham, Deepika Padukone, 

Chitrangada Singh

Rohit Dhavan FY 2012

Rockstar Ranbir Kapoor Imtiaz Ali FY 2012

Bangkok  Blues Irfan Khan , Deepal Shaw, Ranbir Shorey ‐ FY 2012

Untitled (2) (Boney  ‐ ‐ FY 2012/2013

Kapoor Productions)

Untitled (Prabhu Deva) ‐ ‐ FY 2012

Untitled(Illuminati Films) Saif Ali Khan FY 2012

Untitled Arjun Rampal Vicki Singh FY 2012

Untitled (Chasing ‐ ‐ FY 2012

Ganesha Films)

19

Upcoming Regional Releases

Film Name Star Cast Director Tentative Release Kalavadiya Pozhudugal Prabhu Deva Thangar Bachan FY 2011

Tamil Film Slate

y g g

Nandalala Mysskin Mysskin FY 2011

Murattu Kaalai Sundar C, Sneha Selvabharathy FY 2011

Uthama Puthiran Dhanush Genelia D'Souza, K. Bhagyaraj Mithran Jawahar FY 2011

Krishnaleelai Jeevan, Meghana Selvan FY 2011

Engeum Kadhal Jayam Ravi and Hansika Motwani Prabhu Deva FY 2011

Yutham Sei Seran Myskin FY 2012

A A hi M R j i h FY 2012Ayyanar Aathi, Meera Rajamithran FY 2012

Poda Podi Simbu, Varalakshmi Vignesh Shiva FY 2012

Avan Ivan Vishal/Arya Bala FY 2012

Film Name Star Cast Director Tentative Release 

Id Chi K l S hi A h k S f M h h K th i S hi FY 2011

Marathi Film Slate

Idea Chi Kalpana Sachin, Ashok Saraf, Mahesh Kothari Sachin FY 2011

Punha Dhakka Shivaji Satam Mahesh Manjrekar, Makrand Anaspure

FY 2012

20

Outlook and Chairman’s Message

Outlook Chairman’s Message

“We are well positioned to achieve substantial incremental growth over the

• Unparalleled new slate of films substantially funded• IPO proceeds to lock further slate of 2013 and beyond• Slate visibility converted into revenue visibility with

substantial pre sales in music & television licensing substantial incremental growth over the next few years. Our ability to lock a 

strong film slate, our valuable 1,000 film library generating high margin annuity 

income, our unparalleled global 

substantial pre‐sales in music & television licensing• Internal Cash generation and IPO proceeds together

give strongest balance sheet in the business• Indian IPO has given Brand Eros an even bigger boost

ithi t l t d t d ll i I di distribution network and our pioneering steps in the digital domain have  undoubtedly given Eros a huge 

competitive advantage.  Having emerged a clear market leader in Indian filmed

within talent and trade as well as consumers in India• Hindi plus regional portfolio strategy combined with

catalogue provide unique business model• Global distribution network getting stronger with

l a clear market leader in Indian filmed entertainment,  with an even stronger balance sheet and a business based on strong fundamentals, we expect to scale 

further and grow from strength to 

strong slate• Focused on pure play of content and distribution

f g f gstrength.”  

‐Kishore LullaExecutive Chairman

21

Section IIFinancial Summary

Key Financials

7500INR MM

1500 24INR MM % Margin

Total Income EBIT

2 248

4,902

6,5556,278

5000

7500

CAGR FY06‐FY10: 59%1,213

688

1,100

710

14 18 181000

1500

16

24

1,036

2,248

0

2500

FY06 FY07 FY08 FY09 FY10

76221

7

0

500

FY06 FY07 FY08 FY09 FY10

0

8

3 1973 2024000 80 11.52

10 27

1000

12

14

EBITDA(1) PAT & EPS (in Rs.)INR MM                                                                                            % Margin INR MM

962

2,8053,1973,202

13

43 5751 49

2000

3000

40

60

828748

10.27

5.76

400

600

800

4

6

8

10

12

13213

0

1000

FY06 FY07 FY08 FY09 FY10

0

2019 135

4271.860.27

0

200

FY06 FY07 FY08 FY09 FY10

0

2

4

NoteNote1. Amortization includes amortization of film rights 

23

Profit and Loss Account Summary

Summary Profit and Loss Account

Rs. MM (unless otherwise stated)

Particulars FY 2008 FY 2009 FY 2010

Revenues 4,902  6,278  6,555 

Operating Expenses 1,563  2,169  2,528  EBITDA

Employee and Admin Costs 534  907  830 

EBITDA 2,805  3,202  3,197 

Amortisation and Depreciation 2,117  2,102  1,984 

Margin – 49%

EBIT 688  1,100  1,213 

Finance Cost 28  61  89

PBT 660  1,039  1,122 

T 233 291 295Taxes 233  291  295 

PAT (1) 427  748  828 

EPS (basic, in Rs.) 5.76 10.27  11.52 

ROE 51% 46% 35%

ROCE (2) 25% 27%  27%

Note:1. Includes minority interest2. ROCE = (EBIT – Current Tax – Fringe Benefits Tax) / (Networth + Total Loan Funds) 3. Dividends = nil

24

Balance Sheet Summary

Summary Balance Sheet

Rs. MM

Particulars FY 2008 FY 2009 FY 2010

Assets

Net Fixed Assets 1,419 2,195  2,723

Investments 60 80 80

Current Assets, Loans & Advances 6,571 8,933 7,250

Total Assets 8,050 11,208 10,053Total Assets 8,050 11,208 10,053

Liabilities

Shareholders Funds (1) 814 1,580 2,375

Minority Interest 22 40 42

Loan Funds 1,239  2,118 2,175

Current Liabilities & Provisions 5,887 7,189 4,962

Others 88 281 499

Total Liabilities 8,050 11,208 10,053

Note:1. Shareholders funds = Book value = Networth

25

Cash Flows Summary

Summary Cash Flows

Rs. MM

Particulars FY 2008 FY 2009 FY 2010

Cash Flow from Operating Activities

Net Profit Before Tax 660 1,039 1,122

Adjustments 2,144 2,170 2,107

Operating Profit Before Working Capital Changes 2,804 3,210 3,229

Working Capital Changes 579 (1,844) 218

Cash Generated from Operations 3,383 1,366 3,447

Income Taxes (207) (138) (142)

Net Cash Generated from Operating Activities 3,176 1,227 3,305

Cash Flow from Investing Activities

Purchase of Film Rights (2,736) (2,702) (2,554)

Others (134) (103) (10)

Net Cash Used in Investing Activities (2,870) (2,805) (2,564)

Cash Flow from Financing Activities 523 801 (25)

Net Increase in Cash and Cash Equivalents 829 (777) 716

Cash and Cash Equivalents at Beginning of Year 331 1,182 361

Effect of Exchange Rate on Consolidation of Foreign Subsidiaries 22 (44) (5)

Cash and Cash Equivalents at the End of the Year 1,182 361 1,072

26

Section IIIQ2 & H1 FY2011 Operational & Financial Highlights

Operational Highlights

• Eros International successfully completed its IPO in October 2010– Issue Size: Rs. 3,500 million; Issue subscribed over 29 times

– Priced at Rs. 175 per share of face value Rs. 10p

– Shares listed on BSE and NSE on October 06, 2010

– Funds raised by the Company to be utilized primarily for acquiring and co‐producing Indian films includingHindi language films as well as Tamil and other regional language films

• 39 films were released in H1 FY2011 – the highest by any player in the sector

• During the quarter the Company signed a multi‐film content licensing deal worth Rs. 640 million forbroadcast on Zee Entertainment Network

– This deal involves exclusive broadcasting of a select number of Eros International’s films across ZeeEntertainment’s television network

– To date, the Company has signed Rs. 2,400 million worth television and music syndication deals that will start, p y g , yaugmenting revenues and deliver earnings that have attractive margins in FY2011 and FY2012. This alsoincludes deal with Star Network for over Rs. 1,000 million under which the Company has already deliveredfilms

– These and other deals adopt the Company’s portfolio strategy as they include a selection of catalogue filmsfrom Eros International's strong content library of over 1,000 titles, including recent blockbuster releases andyet to be released highly anticipated titles from Eros International‘s repertoire

28

Operational Highlights

• H1 FY2011 witnessed robust box office collections for several of Eros International’s Hindi and regional filmssuch as, Housefull, Anjaana Anjaani, Paathshaala and overseas release of Dabangg & Endhiran (Tamil &Telugu versions), Ravanan, Singham, Sura (in Tamil) and Haapus in Marathi

• The Company has a strong slate of movies for H2 FY2011 comprising Golmaal 3, No Problem, Game,Toonpur ka Supehero which ensure substantial revenue visibility in the coming quarters

• EyeQube, Eros International’s VFX studio, bagged prestigious Hollywood top end projects. It is also workingon select high end shots of RA.One and Desi Boyz, scheduled for a FY2012 release

• The Company has taken several pioneering initiatives under the new media segment, which includes tie‐upswith mobile operators such as Airtel, Internet monetization through YouTube, DTH platforms and cablelicensing. At the heart of this strategy is the Eros Library and the strong slate of new films

29

Financial Overview

Particulars (in Rs. million)

Q2 FY2011 Q2 FY2010 % Change H1 FY2011 H1 FY2010 % Change

Total Income 1,879.0 2,717.9 (30.9) 3,149.1 3,373.6 (6.7)

EBIT 562.7 583.1 (3.5) 809.2 672.0 20.4

EBIT Margins (%) 30 0 21 5 ‐ 25 7 19 9 ‐EBIT Margins (%) 30.0 21.5 ‐ 25.7 19.9 ‐

Profit Before Tax 528.4 569.2 (7.2) 758.5 628.2 20.7

PAT (after minority interest) 453.3 401.6 12.9 608.4 470.0 29.5PAT (after minority interest) 453.3 401.6 12.9 608.4 470.0 29.5

PAT Margins (%) 24.1 14.8 ‐ 19.3 13.9 ‐

Basic EPS  (Rs.) 6.35 5.62 12.9 8.52 6.58 29.5

Note:•All figures are consolidated unless stated otherwise

30

Balance Sheet Snapshot

Particulars (in Rs. million)

30 September 2010 30 September 2009

Liabilities

Capital  714.1 51.0

Reserves & Surplus 2 358 6 1 979 3Reserves & Surplus 2,358.6 1,979.3

Loan 2,242.8 2,104.0

Total Liabilities  5,958.7 4,480.5

Assets

Fixed Assets 3,392.2 2,331.0

Investments 80.0 80.0

Net current assets 2,486.5 2,069.5

Total Assets 5,958.7 4,480.5

Note:•All figures are consolidated unless stated otherwise

31

Financial Discussion

• Operating profit during the quarter was Rs.562.7 million, with improved margins at 30%. Operating profitincreased significantly during the quarter on account of margin expansion which is broadly driven by:

ll b d l– Satellite broadcasting licensing

– Bundling new releases with films from existing catalogue

– Music and New Media Licensing

– Lower direct costs due to brand tie‐ups and increased use of digital distribution.

• The Company reported PAT of Rs. 453.3 million in Q2 FY2011, with margins at 24.1%. For H1 FY2011, PAT wasRs. 608.4 million as against Rs. 470.0 million in H2 FY2010

• The Cash and Bank position improved by 100% from Rs. 541.0 million as on 30 September 2009 to Rs. 1,095.7million as on 30 September 2010

• Net Debt lower at Rs. 1,147 million as on 30 September 2010 as compared to Rs. 1,563 million as on 30September 2009

f• Debt Equity ratio improved to 0.72 times as on 30 September 2010 from 1.04 times as on 30 September 2009

32

Appendix –Additional Information

33

Summary of Relationship Agreement

• Visibility on International Sales with Eros International Platform

– Eros International will unconditionally acquire, exclusive international distribution rights for Indian films (filmsproduced co‐produced or acquired within the territory of India Nepal and Bhutan excluding Tamil language films)produced, co produced or acquired within the territory of India, Nepal and Bhutan excluding Tamil language films)for which Eros India holds distribution rights

• Guaranteed Fee

– Minimum guarantee fee to be paid = 30% of the production/acquisition cost to Eros India + markup of 30%

• Retaining All Domestic Rights

– Indian film rights and India television rights within India shall be retained by Eros India

• Profit‐sharing agreement

– Gross proceeds (net of minimum guarantee fee, commission of 20% of gross proceeds and distribution expenses)received by Eros International will be shared between Eros International and Eros India in a 70:30 ratio

• Non‐Compete

E I t ti l ill t d d i fil i ht i I di fil d T il l fil f– Eros International will not produce, co‐produce or acquire film rights in any Indian film and Tamil language film forexploitation within India, Nepal and Bhutan without first providing Eros India the right to independently participatein or acquire such a business opportunity

• Tenure

– The Relationship Agreement may be reviewed on an annual basis, and is valid for an initial period of five years,automatically renewable for successive two year terms

34

Organizational Structure

Eros International plc (Isle of Man)

99.98%

100%

100%

100%100%100%

69.60%

Acacia Investments Holdings LimitedEros International Pte LimitedEros Network Limited Eros Worldwide FZ Llc.

99%

99.99% 99.65%100%100%

100%30.39%

Eros Digital Private Limited

Eros Music Publishing Pvt. Limited

Eyeqube Studios Private Limited Eros International Films Private Limited

Eros International Media Limited

Eros Distribution (Canada) Limited

Eros International USA Inc. Eros Pacific Limited FIJI

Eros International Limited

64%99.99%

100%100%

100%100% Big Screen Entertainment Private

Limited

Limited

Eros Animation Private Limited

Copsale LimitedEros Music GMBH

Eros Australia Pty.Limited Eros MusicPublishing Limited (UK)

51%

100%100%

Ayngaran International (UK) limited

Ayngaran International (Mauritius) Limited

Ayngaran International Ltd.,Isle of Man

100%

51%

Ayngaran International Media Private Limited

Ayngaran Anak Media Private Limited

35

Shareholding Pattern

Particulars  01 October 2010

Promoter and Promoter Group 78.12%Promoter and Promoter Group 78.12%

Indian  23.75%

Foreign 54.37%

Public 21.88%

Institutions 13.13%

• Foreign Institutional Investors 8.39%

• Mutual Funds / UTI 1.77%

• Financial Institutions / Banks, Insurance and others

2.97%

Non Institutions 8.75%

• Bodies Corporate 1.57%

• Individuals and others  7.19% ‐

Total 91,407,000

36

Thank You

For further details please contact:

Kamal JainEros International Media LtdTel: +91 22 40538500

Anoop Poojari / Urvashi BhutaniCitigate Dewe RogersonTel: +91 22 6645 1211/ 1219

For further details please contact:

Tel: +91 22 40538500Fax: +91 22 40538540E mail: kamal.jain@erosintl.com

Tel:  +91 22 6645 1211/ 1219Fax: +91 22 6645 1200E mail: anoop@cdr‐india.com

urvashi@cdr‐india.com