Shipping Corporation of India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 20, 2008 had considered the Proposal to issue 1 bonus share for every 2 equity shares held and decided to recommend the proposal to the administrative Ministry i.e. Ministry of Shipping, Road Transport & Highways for their approval in terms of the Articles of Association of the Company.

Further the Company has now informed that, the Ministry of Shipping, Road Transport & Highways (MoSRTH) has approved the proposal for issuance of 1 bonus equity share having nominal value of Rs 10/ each for every 2 equity share held by the shareholders. Therefore, the Board may inter alia discuss the proposal at its meeting to be held on July 26, 2008.