SPEL Semiconductor Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on January 18, 2008, inter alia, have accorded the following:

1. Authority to the Board to grant from time to time, options to apply for Equity Shares of the face value of Rs 10/- each, of the Company to or for the benefit of the present and future Employees in Senior and Middle level Management of the Company and to all the Directors of the Company (other than Promoter Directors), under a Scheme titled “SPEL Employees Stock Option Scheme - 2007″ (”Scheme”) as submitted to this meeting and initialed by the Chairman for the purpose of identification, and consequently create, issue, offer, allocate and allot at any time and from time to time, Equity Shares not exceeding in the aggregate 53,25,808 Equity Shares of Rs 10/- each as per the terms of such options. The options and the consequential issue, offer, allocation and allotment of Shares shall be in one or more tranches and on such other terms and conditions as the Board of Directors or Remuneration & Compensation Committee (RCC) may decide, subject to necessary provisions & approvals.

2. Authority to the Board to grant from time to time the options under SPEL Employees Stock Option Scheme - 2007 to Mr. Ar Rm Arun, Vice Chairman and Mr. Sam Varghese, Chief Executive Officer, identified Employees, which may be more than 1% of the issued Capital of the Company at the time of grant of option.