Released on: February 10, 2008, 9:17 pm

Press Release Author: Reliance Technology Ventures Limited

Industry: Telecommunications

Press Release Summary: Reliance Technology Ventures Limited (RTVL), the corporate
venture capital arm of the Reliance ADA Group, has directed the investment of an
undisclosed amount in Sequans Communications (Sequans). RTVL is a wholly-owned
subsidiary of Reliance Capital Ltd.

Press Release Body: Mumbai, India
February 11th 2008

Reliance Technology Ventures Limited Directs Investment into Sequans Communications

Reliance Technology Ventures Limited (RTVL), the corporate venture capital arm of
the Reliance ADA Group, has directed the investment of an undisclosed amount in
Sequans Communications (Sequans). RTVL is a wholly-owned subsidiary of Reliance
Capital Ltd.

1. Sequans Communications, a leading WiMAX semiconductor company, provides
innovative system-on-chip (SoC) solutions for both fixed and Mobile WiMAX systems.
The company offers chip solution for building wide range of WiMAX network components
like femto, micro, and macro base stations, outdoor and indoor subscriber terminals,
home gateways and all types of mobile devices.

2. Sequan's customers include Telsima, Alcatel-Lucent, Nortel, Redline, Airspan,
Alvarion, Soma Networks, LG and Siemens.

3. Sequans is an exclusive provider of 4G mobile WiMAX chips to Sprint for its
highly anticipated XOHM WiMAX network in USA.

4. Along with having the distinction of being the first to demonstrate Mobile WiMAX
MIMO chip technology, SEQUANS has won multiple awards for its innovative SoC
designs, including the best chip design award from WiMAX WORLD USA 2007 and the Red
Herring 100 Global award for 2007.

5. RTVL joins SwissCom and CDC Enterprises as new Sequans investors. Existing
investors include Alcatel Lucent, Motorola, Societe Generale Asset Management, Add
Partners, Cap-Decisif, Kennet Venture Partners, Vision Capital and I-Source Gestion

According to Harshal Shah, CEO of RTVL, \"Sequans is the clear leader in the WiMAX
SoC arena. The global WiMAX market is projected to be $2 billion by 2009 and Sequans
is well positioned to take advantage of this opportunity through its high
performance, yet extremely efficient chip technology for both base stations and
subscriber stations."

Said Dr.Georges Karam, CEO of Sequans, "Sequan's objective is to be the dominant
supplier of WiMAX chips. We have delivered six chips in three years with speed and
accuracy, and we are proud of the clientele and investors who have put their trust
in us. We are happy to have Reliance Technology Ventures as a key strategic
investor. The Reliance ADA Group has aggressive plans in the communications sector
and we see our new partnership with Reliance as the beginning of a fruitful
association."

About Reliance Technology Ventures Limited

RTVL has advised and / or invested in deals to the tune of over $1 billion.
Yatra.com, India's largest on-line travel portal, E-Band Communications Corporation,
Stoke Inc, Seedfund are some of its portfolio investments. RTVL has also led the
investment into an undisclosed technology company which formed the basis of the
largest venture capital transaction in India. RTVL invests in leading edge
technologies, disruptive business models and technology enabled companies around the
world.

About SEQUANS

SEQUANS Communications is a leading supplier of subscriber station and base station
chips for both fixed and mobile WiMAX, based on IEEE 802.16-2004 and 802.16e-2005
standards, Sequans offers equipment manufacturers an all-in-one solution with full
MAC and PHY functionality, enabling them to build a wide range of high performing
WiMAX network components: femto, pico, micro and multi-sector macro base stations,
outdoor and indoor subscriber terminals, home gateways, and all types of mobile
devices. www.sequans.com


Web Site: http://www.rtvl.co.in

Contact Details: Raksha S Singh
Reliance Technology Ventures Limited
Tel: +91.22.30327039/ +91.22.30327000
Fax: +91.22.22847199
Email: raksha.singh@relianceada.com
www.rtvl.co.in