American Stock Exchange News Release

Equity Release
Media Contact: Catherine Chantharaj
American Stock Exchange
212-306-1689/catherine.chantharaj@amex.com

AMERICAN STOCK EXCHANGE LISTS UNITS OF MILLENNIUM INDIA ACQUISITION COMPANY INCORPORATED

New York, July 20, 2006 -  The American Stock Exchange (Amex) today listed the units of Millennium India Acquisition Company Inc. under the ticker symbol MQC.U. The offer size is 7,250,000 units at $8.00 per unit for gross proceeds of $58M. One unit equals one share of common stock and one warrant. Initially, the units will be the only security trading. The lead underwriter is Ladenburg Thalmann.

Located in New York, Millennium India Acquisition Company Inc. is a newly organized company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition or other similar transaction with one or more businesses that have operations primarily in India. The Company's efforts in identifying a prospective target business will not be limited to a particular industry, but is intended to focus on privately owned businesses within the financial services, healthcare, infrastructure and consumer, retail and hospitality sectors.

"The American Stock Exchange is pleased to welcome Millennium India Acquisition Company Inc. to our market," said John McGonegal, Senior Vice President of Amex’s Equities Group. "As a newly formed company entering a challenging marketplace, we believe Millennium India Acquisition Company Inc. can benefit from the host of services the Amex provides its listed entities."

The specialist in Millennium India Acquisition Company Inc. will be AIM Securities Co. For further information on MQC.U and other Amex-listed companies, please visit www.amex.com.

About American Stock Exchange

The American Stock Exchange® (Amex®) is the only primary exchange that offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRSSM. In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 188 ETFs to date. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks.