Raymond Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 29, 2008, inter alia, has approved the following:

1. The Board has recommended a dividend of 25% on the Equity Share Capital for the year
2007-2008.

2. Shri. P K Bhandari stepped down as Wholetime Director of the Company on completion of his term on April 23, 2008.

Shri. Anant Singhania has resigned front the Board with effect from March 29, 2008, which was accepted by the Board of Directors of the Company at its meeting held on April 29, 2008.