Bihar Tubes Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 28, 2008, inter alia, has considered and decided as follows:

1. Allotted 17,98,333 (Seventeen Lakhs Ninety Eight Thousand Three Hundred and Thirty Three) equity shares of Rs 10/- (Rupees Ten each) of the Company to the existing shareholders of Shri. Lakshmi Metal Udhyog Ltd on preferential basis in Consideration of acquiring their 100% equity. This acquisition enables the Company to enhance its market presence in the southern states of the country and would be a high degree integration resulting in an extremely strong balance sheet, earning per share on Consolidated basis, and very Strong earning potential.

2. Allotted 7,82,000 fully Equity Shares of Rs 10/- each to APL Infrastructure Pvt Ltd after adjusting the bonus entitlement in the ratio of 1[one]:1[one], on conversion of 3,91,000 convertible warrants issued earlier.