GIGAMEDIA Ltd — Director's Dealing 2006

Jul 21, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GIGAMEDIA LTD (GIGM)
CIK: 0001105101
Period of Report: 2006-07-19

Reporting Person: Sansar Capital Management, L.L.C. (10% Owner)
Reporting Person: Sansar Capital Special Opportunity Master Fund, L.P. (10% Owner)
Reporting Person: Sansar Capital Master Fund, L.P. (10% Owner)
Reporting Person: Sansar Performance, L.P. (10% Owner)
Reporting Person: Motwani Sanjay (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-07-19	Common Stock	P	17876	$7.4621	Acquired	5784298	Indirect
2006-07-19	Common Stock	P	3924	$7.4621	Acquired	5784298	Indirect

Footnotes

F1: These shares of the Issuer's common stock, par value $10NT per share (the "Shares"), are held for the account of Sansar Capital Master Fund, L.P., a Delaware limited partnership (the "Master Fund").

Sansar Capital Managment, L.L.C., a Delaware limited liability company ("Sansar Capital Management"), serves as investment manager for the Master Fund. Sansar Performance, L.P., a Delaware limited partnership ("Sansar Performance"), serves as general partner of the Master Fund. Mr. Motwani is the Chief Executive Officer of each of Sansar Performance and Sansar Capital Managment.

F2: The Shares are held for the account of Sansar Capital Special Opportunity Fund, Ltd., a Cayman Islands exempted company (the "SO Fund"). Sansar Capital Special Opportunity Master Fund, Ltd., a Cayman Islands exempted company (the "SO Master Fund") serves as the investment manager for the SO Fund. Sansar Capital Management serves as the sponsor of the SO Fund. Mr. Motwani is the Chief Executive Officer of each of Sansar Capital Management and the SO Fund.