Chennai, August 21, 2007 - Kemoil Ltd, Hong Kong announced today that it will make an open offer for acquiring additional 20% percent equity stake from existing shareholders of California Software Company Limited (CALSOFT) under the SEBI - Substantial Acquisition of Shares and Takeovers (SAST) Regulations. Kemoil Ltd is a subsidiary and investment arm of Singapore Exchange Mainboard - listed co Chemoil Energy Ltd (SGX-ST: CHEL.SI)

Calsoft, a software solutions company with global presence, offers product engineering services and product based business solutions in carefully chosen domains. The company is listed in India at NSE and BSE

“We see tremendous potential in Calsoft. Given their intrinsic strengths and track record for innovation, they can now move to higher orbits of all round value generation. Calsoft becoming a part of the Chemoil Group, would enable us to provide it with the additional financial support for vigorously pursuing their acquisition strategy" said Mr. Robert V.Chandran, Executive Chairman and CEO Chemoil Corporation Limited.

Mr. S.(Sam) Santhosh, Managing Director and CEO, California Software Company Ltd. added, “We at Calsoft are at the threshold of rapid growth. So far our expansion plans and strategic initiatives were funded internally. The support of Chemoil would accelerate the pace of growth. We are excited at the opportunity it offers to our customers, employees and investors and partners."