Lactose India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 10, 2008, inter alia, has taken the following decisions:

1. To scale down & vary the terms of the issue of 39,30,000 Equity Shares on a preferential basis as follows:

(i) Indu Kasat USA : 7,80,000 No of Shares
(ii) Shewta Harit UK : Nil
(iii) Shagun Harit UK : Nil

Hence now the issue of equity shares on preferential basis will be reduced to 780000 Equity shares of Rs 10/- each.