1. Sub: Board decision on property development.

At the meeting of the Board of Directors held on 20^th June 2006 , a decision has been taken to develop the property of the company at Bangalore as the manufacturing facility situated therein will be phased out in the next 12 months. The company has engaged international consultants for advising the company in development of the property and sharing of revenues in the best interest of the shareholders.

 

2. Sub: Update on Sales Performance.

During the first two months of the current financial i.e. two months ending 31^st May 2006, the company has registered a sale of Rs.42 Crores as against Rs.25 Crores in the corresponding period of the previous year recording a growth of 68%.