Shree Bhawani Paper Mills Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 28, 2008, has considered and approved the following:

1. Shri. Girish Tandon, Jt. Managing Director, re-designated as Managing Director of the Company.

2. Shri. Sudhir Tandon ceased to be the Managing Director of the Company with effect from April 28, 2008.

3. Shri. Alankar Tandon has been appointed as Additional and Whole Time Director designated as Executive Director on the Board with effect from April 28, 2008 subject to approval of Members in ensuing General Meeting of the Company.

4. Shri. Sudhir Tandon has been appointed as additional director with effect from April 28, 2008.

5. Shri. Om Nath Kapoor ceased be the Director of the Company with effect from April 28, 2008.