Century Plyboards India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 16, 2008, inter alia, has taken the following decisions:

1. The Board approved allotment of 24,51,886 equity shares of Rs 10/- each and 5,00,000 Preference Shares of Rs 10/- each of the Company to the shareholders of erstwhile Century Panels Pvt Ltd, Sharon Veneers Pvt. Ltd. and Sharon Wood Industries Pvt. Ltd., whose names appeared in the Register of Members as on Record date, as per the Scheme of Amalgamation approved by the Hon’ble High Courts at Calcutta and Delhi.

2. Shri. Banwari Lal Agarwal, Chairman of the Company resigned from the Board. The Board, while accepting his resignation, requested him to continue as Chairman emeritus and guide the Board of Directors to which Shri. Agarwal agreed. So, Shri. Banwari Lal Agarwal is now Chairman Emeritus of the Company.

3. Shri. Nagraj Tater, Executive Director of the Company, resigned from the Board, but agreed to remain in the services of the Company.

4. The Board appointed Shri. Prem Bhajanka, Director of erstwhile Century Panels Pvt. Ltd. and Shri. Vishnu Khemani, Director of erstwhile Sharon Veneers Pvt, Ltd. and Sharon Wood Industries Pvt. Ltd., as Directors of the Company. Shri. Prem Bhajanka and Shri. Vishnu Khemani will be involved in the day-to-day affairs of the Company and will be suitably designated and remunerated as per the recommendation of the Remuneration Committee of the Company, which will meet shortly to decide the same.