SUPERVISORY COMMITTEE

Narayanan Vaghul

Mr. Vaghul is the Chairman of the Board of Directors of NICE. He has had a long and distinguished career as a banker and is currently the Chairman of ICICI, one of the leading Financial Institutions in the country. As head of ICICI, Mr. Vaghul has fashioned its growth from a development bank to a financial conglomerate. Under his guidance, the corporation has promoted organizations such as Credit Rating Information Services of India (CRISIL), ICICI Banking Corporation, the first over the counter stock exchange (OTCEI) in India and ICICI Securities and Finance Company.

In addition to being the Chairman of most of the above companies, Mr. Vaghul has been appointed Chairman of the Foreign Investment Promotion Council (constituted by the Government of India).

Mr. Vaghul began his career with State Bank of India. Thereafter he worked with the National Institute of Bank Management where he rose to the position of Chief Executive. He also worked with two of the country's large commercial banks, Central Bank of India as Executive Director and Bank of India as Chairman and Managing Director.

Mr. Vaghul is a Commerce graduate and a Chartered Associate of the Indian Institute of Bankers.

Baba N. Kalyani

An able entrepreneur and technocrat, Mr. Kalyani is the Chairman of the Rs. 13 billion Kalyani Group based in Pune. With a business experience of more than 27 years, Mr. Kalyani has set the group on its growth path and is credited with the extraordinary vision for its entry into the fast emerging infrastructure development arena in India.

Mr. Kalyani is currently also the Chairman of the Western region of Confederation of Indian Industry (CII) and has also headed the Maharashtra Committee of CII. He has been associated with several other institutions such as Indian Institute of Management, Indore as the Chairman of the Governing Board, American Society of Metals, Pune Chapter as its Chairman. Widely traveled, Mr. Kalyani is also a Member of the World Economic Forum, Switzerland.

His contributions to industry have been recognized through awards that he received FIE, Foundation in 1991. Mr. Kalyani is also a recipient of the prestigious National Press Award in 1995.

Mr. Kalyani is an Engineering graduate from the Birla Institute of Technology, Pilani and post graduate from the Massachusetts Institute of Technology, USA.

As Managing Director of NICE, Mr. Kheny is responsible for project conceptualization and implementation. He has over 20 years of experience in engineering, design and construction of major projects in the transportation, infrastructure and telecommunications sectors in the US. In India, he is a senior member of the team that is developing the 30.35 Kms grade separated access controlled Hubli- Dharwad Bypass in the state of Karnataka. Mr. Kheny is the founder and Principal of SAB Engineering and Construction Inc. He is also a director of India International Infrastructure Engineers Ltd., a company established by the Kalyani Group, VHB and SAB to provide engineering and construction support services for infrastructure and transportation project throughout India. He has developed some of the leading concepts of public private development of roads in India and coined the concept of "Infrastructure Corridor".

Mr. Kheny was responsible for the engineering and construction of the Boston Blue Line Rapid Transit Signal and communication system upgrades for the Massachusetts Bay Transportation Authority. He developed a unique integrated construction task coordination, safety management, and train operations schedule coordination system for this project to accommodate equipment installation under train running conditions. Mr. Kheny has been Project Director for an 800 miles fiber optic cable design and construction project for US Telecom, which involved extensive coordination with more than a hundred local, federal and state agencies. The project required the crossing of over 400 bridge structures, rivers and water bodies and major roadway crossing, He also worked as an Electrical Engineer with Penn Central Railroad and then its successor company CONRAIL.

Mr. Kheny is a graduate in Electric Engineering and a post-graduate in Management Science & Engineering.

Mr. Sundar is a Consultant in transport infrastructure and a Director on the Board of NICE. He is advising the company on the BOT concept covering legal and financial issues, aimed at attracting investments into the project. Mr. Sundar retired from the Indian Administrative Service in March 1997 as Secretary to the Government of India, Ministry of Surface Transport. The position had primary responsibility for the development of National Highways, Ports, Shipping and Inland Waterways. He spearheaded major policy initiatives to attract private investment, including foreign direct investment, in the ports and roads sectors. Mr. Sundar successfully steered the award of the first major BOT Concession for setting up a Container Terminal in Jawaharlal Nehru Port, Nheva Sheva (near Mumbai).

Apart from holding a number of senior positions in various state and central government departments and Public Sector Undertakings, Mr. Sundar was Director, Economic and Legal Advisory Services Division, Commonwealth Secretariat, London. He was responsible for the Division's advisory services in the areas of debt management, international finance, promotion of investment, capital market development, privatization, private sector development and natural resources development.

Mr. Sundar is a Law graduate and a post-graduate in Economics.

Mr. Kheny is a member of the Boards of Directors of NICE. He has vast experience of infrastructure and core sector industries and is also a member of the Board of Directors of a number of companies. Some of these companies are Kalyani Steels, Kalyani Seamless Tubes Limited, Kalyani Ferrous Industries Limited, Nandi Highway Developers (the company that is currently developing the Hubli-Dharwad Bypass Road), Hikal Chemicals Limited and Mysore Sales International Limited, a GoK enterprise. Mr. Kheny also serves as the member of board of governors of Indian Institute of Management, Lucknow.

Mr. Kheny is a graduate in Mechanical Engineering.

Mr. Hangen has a wide range of expertise in transportation, facility design, planning and project management. He is a founding partner and President of VHB and has been with the firm for more than 20 years. He has more than 30 years of experience in transportation and engineering consulting.

He has directed or prepared major traffic management studies, transportation improvement studies for large urban areas in the U.S. and in other countries including cities such as Seoul and Mumbai. In Mumbai, for the World Bank he directed the development of a city-wide traffic system management plan.

Mr. Hangen is graduate in Civil Engineering from the University of Delaware and a post graduate in the same from Drexel University.

Mr. Thompson is the Senior Vice President of VHB and advises NICE on project management and engineering. He will also advise on township development and design, cost development and other financial issues.

Mr. Thompson has 19 years of experience in transportation infrastructure. He is managing the design of a major new interchange to be constructed at the US Interstate 93 in a highly congested industrial and commercial area bounded to two heavily traveled Interstate highways. He has prepared the transportation master plan and managed the engineering of a primary roadway corridor through commercial, industrial and residential areas near Interstate 95 in the US.

Mr. Thompson is a graduate in Civil Engineering from Iowa State University and a post graduate in the same from the Pennsylvania State University.

Dr. Hayward is a Director on the Board of NICE and advises the project management team on various issues like design, engineering and construction. Dr. Hayward has over 30 years of experience in the infrastructure sector. He is currently the General Manager of the Transportation Business Unit of Michael Baker Corporation, USA. In this capacity he is responsible for all transportation planning, design, construction and operations services provided to transportation agencies across the country.

Dr. Hayward has directed a three firm joint venture in the development of a futuristic concept for rehabilitating the 50 mile corridor from Delaware to New Jersey. He also major four year research study for the Federal Highway Administration entitled "Improving the Traffic Operations and Safety of Ramps and Speed Change Lanes."

Dr. Hayward is a registered Professional Engineer and a Doctorate in Civil Engineering.