Intimation regarding the approval accorded by the shareholders of the Company at the Extraordinary General meeting held on 15 March 2007 for utilization of the Securities Premium account balance for adjustment of the debit balance in the profit and loss account of the Company as on 31st December 2006.

Sub: Intimation of the decisions taken by the Board of Directors at their meeting held today.

This is to inform you that at the recently concluded Extraordinary General Meeting of the Shareholders of the Company held today for seeking their approval to the reduction of Securities Premium Account for adjusting accumulated losses of the Company as on 31st December 2006, necessary special resolution has been passed by the shareholders at the said meeting in terms of their consent for the said proposal.

Please note that necessary No-objection to the said proposal has already been received from the Bombay Stock Exchange Limited vide letter ref. DCS/AMAL/HKK/NOC/858/2006-07 dated March 1, 2007. National Stock Exchange Limited, Mumbai has confirmed that upon receipt of a certified copy of the shareholder’s resolution , they would action the release of the No Objection Letter.

Accordingly, upon receipt of the aforementioned NOC from NSE as well, we shall proceed to file the application alongwith the petition to the High Court of Judicature at Bombay for obtaining the said Honourable court’s approval for the aforementioned scheme of reduction/utilization of the securities premium account for adjusting the debit balance in the profit and loss account of the Company as on 31st December 2006.

Pursuant to the provisions of section 100 to 104 read with Section 78 and other applicable provisions, if any, of the Companies Act, 1956, Article 56 of the Articles of Association of the Company and subject to the confirmation of the Honourable High Court of Judicature at Bombay, an amount of Rs.38,89,02,555 (Rupees Thirty Eight Crores Eighty Nine Lacs Two Thousand Five Hundred Fifty Five only) from the Securities Premium Account of the Company shall be reduced / utilised for adjusting the debit balance in the Profit and Loss Account as at December 31, 2006.

Date : 15th March, 2007
Place : Mumbai.

Issued by
Sree Vidhya Raju
Assistant General Manager (Legal)
& Company Secretary
Aptech Limited