New Horizon Leasing & Finance Ltd has informed BSE that an Extraordinary General Meeting of the members of the Company will be held on April 26, 2008, inter alia, to transact the following business :

1. To Change the name of the Company from “New Horizon Leasing & Finance Ltd” to “New Horizon Industries Ltd”, subject to necessary provisions and approvals.

2. For commencement of the business as stated under clause III (C) 58 and 81 of the Object clause of the Memorandum of Association of the Company as reproduced below:

Clause III (C)

58 To carry on the business or manufacturing, spinning, weaving, knitting, testing, crimping, twisting, throwing, reeling, processing, combing, scouring, preparing, cutting, pressing, mixing, finishing in any form, converting, altering, exchanging, turning to account by any process or method of manufacture chemical, synthetic or otherwise or any other manner, bleaching, dyeing, mercerizing, printing, buying, selling, importing, exporting, indenting, distributing and otherwise handling and dealing in rayon yarn, nylon yarn polyester, acrylic, cuprammonium, man-made or synthetic fibers, staple fibers, yarns, cords, and such other fibers or fibrous material or yarn for textile, industrial and other purposes cloth and fabrics made from cotton, jute, wool, silk, art- silk, rayon nylon, polyester, acrylic, cuprammonium, man-made and synthetic fibers, yarns, stap fibers, wastes, cotton whether grey, bleached, unbleached dyed, printed, knitted, knotted, looped, creped, crinkled or felt and generally to carry on the business of spinning and weaving mill proprietors in all their branches.

81 To deal in or engage in the manufacture of means and materials required for the packing and preservation and dispatch of finished and unfinished goods, raw materials, articles.

3. To borrow periodically from, including without limitation, any Banks and / or public financial institutions as defined under section 4 of the Companies Act, 1956 and / or any foreign financial institution(s) and / or any entity / entities or authority / authorities and / or through suppliers credit securities instruments, such as floating rate notes, fixed rate notes, syndicated loans, debentures (both convertible and non-convertible), commercial papers, short term loans, working capital loans or any other instruments etc., and / or through credit from official agencies and / or by way of commercial borrowings including external commercial borrowings from the private sector window of multilateral financial institutions, either in rupees or in such other foreign currencies as may be permitted by law from time to time as may be deemed appropriate by the Board for an aggregate amount not exceeding Rs 100 Crores (Rupees One hundred Crores only) not withstanding that money so borrowed together with the monies already borrowed by the Company, if any (apart from temporary loans obtained from the Company?s bankers in the ordinary course of business) may exceed the aggregate of the paid up capital of the Company and its free reserves, that is to say, reserves not set apart for any specified purpose, subject to necessary provision and approvals.