Prakash Industries Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on April 25, 2008, inter alia, to consider the following special business:

1. Increasing the Authorised Share Capital of the Company from Rs 160 crores to Rs 170 crores.

2. Investment of Rs 400 crores by way of purchasing 570000 Equity Shares of Rs 10/- each of an unlisted Company owned by the promoters and having mining rights of an iron ore mine.

3. Issue of 16,00,000 (sixteen lacs) 0% Compulsory Convertible Preference Shares (CCPS) of the Company of Rs 100/- each to the promoters for consideration other than cash.

4. Re-appointment of Managing Director and Whole-time Directors of the Company.

5. Increasing the borrowing powers of the Board of Directors from Rs 1000 crores to Rs 3000 crores.