Silver Smith India Ltd has informed BSE that in pursuance to share holders meeting held on June 09, 2008, the Company has received payment being 10% of the total amount for issue of convertible warrants to the Investors. Further to the said Meeting, a committee of Directors formed for the said Issue of Warrants have vide their meeting dated June 24, 2008 has issued convertible Warrants at a price of Rs 40/- per convertible warrant in term of resolution passed by the Shareholders in their meeting on June 09, 2008. The name of the Issuers and number of Warrants issued is detailed hereunder:

1. CNI Research Ltd (Non-Promoters: Bodies Corporate) : 270000 No of Convertible Warrants

2. Naresh Kumar Agarwal & Sons (HUF) [Non Promoters: Indian Public]: 100000 No of Convertible Warrants

3. B K Narula (HUF) [Promoters]: 457400 No of Convertible Warrants

4. Sanjay Mittal (Non Promoters: Indian Public) : 252000 No of Convertible Warrants.