Rane Holdings Ltd has informed BSE that the members of the Company will consider to approve by way of postal ballot, the following special resolutions:

1. The last sentence in Clause 30 of the Objects Clause of the Memorandum of Association which reads as follows:

‘The Company will not carry any NBFC activity as per Section 45-1A of the Reserve Bank of India Act, 1934′ be and is hereby deleted.?

2. To make loan, give guarantee or provide security for a sum not exceeding Rs 250 million in respect of term loan / working capital facilities availed by Rane Diecast Ltd, subsidiary company, from the bankers / other lending institutions., subject to necessary provisions & approvals.

The Board of Directors at their meeting held on March 27, 2008 has appointed Mr. R Balasubramaniam, Practicing Company Secretary, as Scrutinizer for conducting the postal ballot in a fair and transparent manner.

The Postal Ballot forms duly completed should reach the Scrutinizer within 30 says from the date of posting of this letter by the Company (i.e.) not later than the close of working hours on May 12, 2008. The Scrutinizer will submit the report to the Chairman or Vice Chairman of the Company after completion of the scrutiny and the result of the postal ballot will be announced by the Chairman or Vice Chairman on May 16, 2008.