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1 of 2 Early Warning News Release Pursuant to National Instruments 62-103 and 62-104

FSCWIRE

1 of 2 Early Warning News Release Pursuant to National Instruments 62-103 and 62-104

Mississauga, Ontario (FSCwire) – Further to disclosure requirements of applicable securities laws, Raja Tuli announces that he has acquired from Datawind Inc. (the “Issuer”) 150 units, each unit consisting of a $1000 principal amount debenture convertible to common shares at a price of $0.1575 and 1100 common share purchase warrants. On a fully diluted basis Mr. Tuli has acquired 1,117,380 common shares, representing approximately 4.59% of the Issuer’s pre-transaction issued and outstanding common shares.

Immediately before completion of the transaction Mr. Tuli held 2,636,036 common shares, 619,596 common share options, and 109,155 common share purchase warrants exercisable at 10 warrants for 1 share, for a total of 3,266,547 common shares on a fully diluted basis, being approximately 13.44% of the Issuer’s pre-transaction issued and outstanding shares. After acquiring 1,117,380 common shares (on a fully diluted basis) through the transaction, Mr. Tuli will hold 4,383,927 common shares on a fully diluted basis, representing approximately 16.52% of the Issuer’s post-transaction issued and outstanding shares.

This news release is being issued as required by National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues and National Instrument 62-104 – Take-Over Bids and Issuer Bids and relates to the Issuer and Raja Tuli.

SOURCE Raja Tuli

For further information: Further information (including a copy of the early warning report to be filed on SEDAR) can be obtained at www.sedar.com under the Issuer’s company profile.

To view the associated document to this release, please click on the following link:

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