Bharat Forge Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 20, 2008, inter alia, to consider audited Balance Sheet and Profit and Loss Account for the year ended on March 31, 2008. After consideration of accounts, the
Board may consider recommendation of Dividend.

At the abovesaid Meeting the Board will also review its earlier decision for issue of
Convertible Warrants to the Promoters Group of upto Rs 300 crores and will also consider alternate proposals for fund raising.