Maxwell Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 30, 2008, inter alia, has approved the following:

1. Recommended 5% (Rs.5/- per preference shares of Rs 100/-each) dividend on Redeemable Preference Shares for the financial year 2007-08.

2. Recommended 22.50% (45 paisa per equity shares of Rs 2/- each) final dividend on equity shares for the financial year 2007-08.

3. De-listing of Equity Shares from Over the Counter Exchange of India (OTCEI)

4. Inter-se transfer of Equity Shares between the Promoters of the Company upto the date of Board Meeting.

5. Consider and accepted the resignation received from Shri L Vinay Reddy, Director of the Company.