Information Given to Stock Exchanges

Outcome of Board Meeting on May 9, 2007

A meeting of the Board of Directors of the Company was held on May 09, 2007, has considered and decided on the proposal of entering an agreement with M/s. Logistic Solutions Inc., USA to open a branch office at New Jersey to do business in IT Outsourcing and Consultancy etc.

The Company will open its branch in USA and will be known LSIKTL (combined name of Logistic Solutions Inc., Kaashyap Technologies Ltd.,). Logistics Solutions Inc., USA (LSIU) will assign its contracts to LSIKTL.

Logistic Solutions, Inc., (LSI) is a consulting firm specializing in staff supplementation, off-site and off-site project work within the telecommunications, finance, pharmaceutical, wireless, healthcare and educational markets. Founded in 1990, LSI claims to be a premier provider of outsourcing services, offering a "single solution" for clients that need to create high-value and large-scale content. LSI offers a range of strategic consulting services to address clients management needs from strategic assessment and solutions design to implementation services. As the financial year 2006 - 07 of LSIU has seen a turnover of more than 12 Million USD, the future for this joint venture is prospective.

Typical Engagements encompass the following areas:

Technology Research & Business Analysis, IT Strategic Planning, Architectural, Assessment TCO (Total Cost of Ownership) Assessment, IT Operations Assessment, 'Wireless Access & Security Strategy, Decision Support Strategy, Mobile Access and Strategy SLA (Service Level Agreement) Policy Management, Tool Evaluation Business Process Reengineering Standards Development Backup and Recovery Strategy.

Result of Postal Ballot:

The members of the Company, by way of Postal Ballot, have approved with requisite majority, the addition of object clauses next to the Object clause No. 4 of the Main Objects of Memorandum of Association of the Company.

Clause 5: To establish hospitals and healthcare institutions and conduct, run, manage and maintain the same to provide for a comprehensive healthcare and treatment in all branches of medicine in general, to diagnose, test and detect the diseases and deficiencies in human beings and to develop and promote telemedicine and distant medical facilities in remote areas and to provide communication amongst medical community by dissemination of specialized knowledge through a technologically advanced network and to develop various means of integration of technological advancement in various data transmission fields with various modes of medical facilities to facilitate swift and comprehensible access to, maintenance and retrieval of the electronically maintained information, records and systems, thereby developing a network among doctors, hospitals and patients.

Clause 6: To provide Telemedicine through the transfer of medical information, medical transcription in all forms of audios, videos, motion pictures, still images, graphics, CD's, E-mail, internet, text and other forms of electronic methods between the patients, physicians, other healthcare providers, medical institutions in distance locations, conducting teleconferences, peer to peer reviews through the integration of medical and surgical expertise of specialist medical consultants with the doctors or patients in the remote areas through the use of computer, satellite and networking technology for diagnosis and standardize Techniques of telemedicine and conduct research therein and to develop, implement and maintain software, computer systems and related hardware, peripherals, communication equipment and other accessories for the use of Telecommunications and Networking Technology for providing the telemedicine and healthcare management, to collaborate with Indian and Foreign Universities, research organization, other foundations in the above referred areas and to provide facilities for and conduct post graduate medical education and/ or research courses.