Orissa Sponge - Outcome of Board Meeting

Orissa Sponge Iron & Steel Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 31, 2008, inter alia, to considered the following :

1. Passed the Revenue Budget of the Company for the financial year 2008-09.

2. Considered the proposal for Iron ore Mining by a JV of TSPL & Rabisons Holdings Ltd.

3. Recommended Exchange to delist the Company’s shares from Kolkata Stock Exchange.

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