RELIANCE RETAIL ESTABLISHES JOINT VENTURE WITH OFFICE DEPOT

FOR BUSINESS IN INDIA; Acquires eOfficePlanet JV To Provide World Class Office Products and Solutions for Business Customers Reliance Retail Limited (RRL) and Office Depot®, a leading global provider of office products and services, today announced that they have entered into a joint venture to provide office products and services to business customers in India. With this partnership, Office Depot marks its entry in India – a market which is one of the top 15 office product markets in the world. To accelerate the rollout of their joint venture, Reliance Retail and Office Depot also announced the acquisition of eOfficePlanet®, one of the largest dealers of office products and services to corporate customers in India. eOfficePlanet provides a full range of national and private brand office products and solutions to its customers, serving India’s many blue chip and multinational corporations. The Company offers abroad array of business consumables including office stationery and supplies; office technology; printing solutions; corporate gifting and promotional products; break room, canteen, pantry and janitorial supplies; and other items across India’s largest cities. The joint venture will combine the global resources of Office Depot with the local market knowledge and resources of Reliance Retail Limited to establish a sophisticated supply chain network and enhance eOfficePlanet’s merchandizing and sourcing capabilities. "Reliance Retail has embarked on an ambitious plan to transform the retail market in India. To provide a range of options for business customers, we have partnered with Office Depot. This partnership reflects a powerful combination of category leading expertise and global sourcing capabilities of Office Depot with the immense distribution reach and deep customer understanding that Reliance Retail has achieved," said Bijou Kurien, President and CEO of Lifestyle for Reliance Retail. “The joint venture with Reliance and strategic acquisition of eOfficePlanet will put Office Depot in a leadership position in India,” said Charles Brown, President of Office Depot’s International Division. “eOfficePlanet is the market leader in the fast-growing Indian office supplies industry, with high brand recognition among the procurement decision makers in large corporate organizations. Our new relationship will provide Office Depot with a platform to both serve our existing global customers who have operations in India and to expand our offering to all business customers in India.” Sreenivas Nagappa, Country Manager for Office Depot India will be based in eOfficePlanet’s Mumbai headquarters and Shyam Barilits-Gupta, who currently serves as CEO of eOfficePlanet, will continue as part of the management team within eOfficePlanet