With reference to the earlier announcement regarding Outcome of EGM held on October 15, 2007, Gujarat Raffia Industries Ltd has informed BSE that the resolution accorded in the said EGM should now be read as follows:

“RESOLVED that pursuant to article 3 of the Articles of Association of the Company, each of the existing 99,89,550 (Ninety Nine Lakh Eighty Nine Thousand Five Hundred Fifty) fully paid equity shares of Rs 5/- each, be and are hereby divided into 49,94,775 (Forty Nine Lakh Ninety Four Thousand Seven Hundred Seventy Five) fully paid up equity shares of Rs 10/- each, ranking pari passu in all respects with the existing equity share capital of the Company.”