Released on: May 26, 2008, 10:11 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 Pelago, Inc. RTVL is a wholly-owned subsidiary of Reliance
Capital Ltd.

Press Release Body: May 27, 2008, Mumbai, India

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

1. Pelago offers a new break-through mobile and Web-based service that is at the
intersection of social networking and local discovery. The service is offered under
the brand name 'Whrrl'.

2. The Whrrl service catalogs peoples' activities, chronicling an individual's
history of places visited and events attended through icons pinpointed on Whrrl's
built-in mapping application. Whrrl users and their friends can then rate, review,
and comment on these places and events.

3. Whrrl shares user-contributed information with others through a real-time
micro-blogging feature called the "Whrrld Feed." Whrrl users check in via SMS, the
Whrrl mobile application, or the Whrrl Web site, instantly updating others on their
location or status through their Whrrld Feed. Whrrl's \"passive visitization\"
technology can precisely detect if a person is walking into a store or merely
walking by.

4. Whrrl also has a powerful filtering feature which allows users to quickly find
places and events based on a combination of factual and social criteria like hours
of operation, distance from current location, cuisine type, show times and friends'
ratings. This filtering capability in Whrrl opens entirely new discovery pathways by
allowing users to look at the map and search through the eyes of the people they
know and the places they go.

5. The Whrrl service is currently available nationally in the U.S., with a database
of millions of interesting businesses and events. In select metro areas, Whrrl
provides industry-leading location data, going down to details like happy hours, and
features ranging from free wi-fi to fireplaces to outdoor seating. This deep data
experience is currently available in Seattle, Portland, San Francisco, Los Angeles,
San Diego, Austin, Chicago, Boston, New York, Washington, D.C., Atlanta, Kansas
City, Phoenix, Philadelphia, and Miami, with more metro areas to come.

6. Other investors in Pelago include Kleiner, Perkins, Caufield and Byers, Jeff
Bezos' Bezos Expeditions (Founder and ex-CEO, Amazon), T-Ventures, DAG Ventures and
Trilogy Equity Partners.

According to Harshal Shah, CEO of RTVL, \"Pelago offer consumers and advertisers a
unique proposition by combining local search and discovery with an underlying social
networking flavor. While it offers consumers to discover, rate and review places and
events, Pelago also enables advertisers to get better ROI through it's highly
precise location based advertising platform."

According to Jeff Holden, CEO of Pelago, "Whrrl allows you to discover the world
through the eyes of your friends and other people you trust. In this way, it makes a
person's social network valuable in a completely new way. We've created Whrrl as an
indispensable real-world mobile companion for our users and we find it extremely
gratifying that Reliance Technology Ventures recognizes this potential and supports
us as a vital strategic investor."

About Reliance Technology Ventures Limited

RTVL has advised and / or invested in deals to the tune of over $4 billion.
Yatra.com, India's largest on-line travel portal, Sequans Communications, Stoke Inc,
E-Band Communications Corporation, Seedfund are some of its portfolio investments.
RTVL had also advised Reliance Globalcom in the acquisition of U.K. based eWave
World and in the $300 million acquisition of US based Yipes Holding, Inc, a leading
provider of managed Ethernet Services. 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 Pelago

Pelago, Inc. is an early-stage company based in Seattle developing a new generation
of consumer experiences based on breakthrough technology, including Whrrl, a new
mobile and Web-based service at the intersection of social networking and local
discovery. Pelago was founded by former senior executives from Amazon.com.
www.pelago.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