SEL Manufacturing Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 25, 2008, inter alia, has approved the following:

1. Insertion of Clause 7A in the Articles of Association of the Company to specifically provide for the powers of the Company to issue Global Depository Receipts (GDRs) and / or American Depository Receipts (ADRs) and / or Foreign Currency Convertible Bonds (FCCBs) and / or any other instrument or securities representing convertible securities convertible into Shares of the Company.

2. To raise funds for the Company by way of issue of securities including Global Depository Receipts (GDRs) and / or American Depository Receipts (ADRs) convertible into equity shares, Foreign Currency Convertible Bonds (FCCBs) or any instrument or securities representing convertible securities such as convertible debentures, bonds or warrants etc. convertible into equity shares, whether optionally or otherwise or any combination thereof (”Securities”) upto an aggregate amount not exceeding Two Hundred Fifty Million United States Dollars (US $ 250 Million).

3. The Board has decided to seek the approval of the shareholders by convening an Extra Ordinary General Meeting inter alia for the above said proposals.