Passari Cellulose Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on April 22, 2008, inter alia, to transact the following:

1. To issue a final call to the members From whom call money is due.

2. To Consider and appoint Mr. Suresh Gadiya & Mr. Prakash Jain as Additional Directors on the Board of the Company.

3. To review the operations and business of the Company and consider the certain potential business opportunities.

4. To review outstanding liability with Orissa State Financial Corporation (OSFC) and authorize Mr. Vineet Dalmia the Director of the Company to negotiate terms of final settlement.

5. To take a note of Merchant Bankers Certificate, approve the transfer of shares and approve the Change in Management after the Open Offer / Takeover of the Company.

6. To approve closure of certain Bank Accounts.