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Everest Kanto - Updates on Outcome of Board Meeting

With reference to the earlier announcement dated April 09, 2008 regarding Outcome of Board Meeting on April 08, 2008, Everest Kanto Cylinder Ltd has now informed BSE that instead of first pari passu charge it had been inadvertently mentioned that the Board has approved the creation of second charge on movable & immovable assets of the Company located at Tarapur, Aurangabad & Gandhidham to secure the loan facility of USD 45 Million to be taken from the consortium of ABN AMRO Bank, Standard Chartered Bank & Citibank N. A. by EKC Hungary Ltd and CP Industries Holdings, Inc, subject to the approval of the members by Postal Ballot.

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