Information Given to Stock Exchanges

Outcome of Board Meeting on January 27, 2007

A meeting of the Board of Directors of the Company was held on 27th January 2007 has considered and adopted the following:

• The Board postponed the allotment of equity shares on preferential basis.
• The Board considered and approved the proposal of change in the Object Clause of the Memorandum of Association.
• The draft Notice for Postal Ballot along with the Explanatory Statements has been considered and approved.