Bafna Spinning Mills & Exports Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 23, 2008, inter alia, has taken the following decisions:

1. Annual General Body Meeting to be conducted before July 31, 2008.

2. Decision taken to Split the Share Value per share from Rs 10/- to Rs 5/- per Share.

3. Decision taken to venture into the businesses of Realty, Mining, IT & Education and accordingly amend the Articles of Association.

All the above matters to be placed for the approval of the Members of the Company at the ensuing AGM.