Aryaman Financial Services Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 18, 2008, inter alia, has taken the following decision subject to the approval of shareholders of the Company:

1. The Authorised Capital of the Company be increased from Rs 5 crores to Rs 11 crores.

2. To issue 62,70,330 Warrants convertible into Equity shares on a preferential basis at a price to be determined in accordance with the guidelines for preferential issue contained in chapter XIII of the SEBI (DIP) Guidelines, 2000, to the promoters and other interested parties.