Bihar Tubes Ltd has informed BSE that subject to the approval / confirmation of the shareholders of the Company at the ensuing Extra-Ordinary General Meeting, the Board of Directors of the Company at its meeting held on May 16, 2008 has considered and approved as follows:

1. To raise funds up to 50 Million USD through Global Depository Receipts (GDRs) and / or American Depository Receipts (ADRs) and / or Foreign Currency convertible Bonds (FCCBs) and / or fully Convertible Debentures (FCDs) or any other convertible securities and / or securities linked to equity shares and / or any other instruments or securities through the QIB / Private Placement or Institutional Debts from domestic or international markets and / or combination thereof for the proposed expansion plans and modernization of existing manufacturing facilities of the Company.

2. To increase authorised capital of the Company to INR 250 Million by creation of 9 (Nine) Million additional Equity Shares of Rs 10/- (Rupees Ten) each.

3. Appointment of following persons as director of the Company

[Category: Non-executive Professional Independent]

a. Mr. Srichand Techchand Gerela as additional director

b. Mr. Aniq Husain to fill the causal vacancy caused by the resignation of Mr. Atul Jain.

[Category: Non-executive Promoter]

a. Mr. Vinay Gupta as additional director

b. Mr. Sameer Gupta to fill the casual vacancy caused by the resignation of Mrs. Saroj Rani Gupta.

following these appointments / resignations various board committees are also reconstituted accordingly.

4. To convene an Extra-Ordinary General Meeting of the Members of the Company on June 11, 2008 for seeking the consent of the shareholders for the aforesaid purpose.