This is with reference to the above mentioned subject; we would like to inform the outcome of the meeting of the Board of Directors of the Company held on Friday, June 29, 2007, which is as under:

1. The Board has recommended dividend of Rs. 2 per equity shares i.e. @ 20% for the financial year 2006-2007.

2. The Board has approved the Annual Accounts for the year ended as on March 31, 2007.