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9th January 2009

Intimation Sent To Stock Exchange - Board Meeting held on January 09, 2009

This is to inform that the Board of Directors of the Company at its Meeting held today reviewed its earlier decision for Issue of Non Convertible Debentures with Detachable Warrants, convertible into Equity Shares, each of the above securities not exceeding in value Rs.4000 million, to the Members of the Company on “Rights” basis, and decided to cancel it due to weak market conditions.