Intimation of Outcome of Board Meeting on August 18, 2008

A Meeting of the Board of Directors of the Company was held on August 18, 2008 at 11.00 A. M. at the Registered Office of the Company to consider the allotment of bonus shares

Pursuant to the approval of the shareholders at their Tenth Annual General Meeting held on June 11, 2008, in which the issue of Bonus Shares was approved in the ratio of one equity share for every six shares held, the Board of Directors of the Company at their meeting held on August 18, 2008, have allotted 6,35,99,273 Equity Shares of Re. 1/- each aggregating to Rs. 6,35,99,273/- as fully paid-up Bonus Shares to those members/ beneficial owners holding shares as on the Record Date i.e. August 14, 2008.