Sinclairs Hotels Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 18, 2007, has made allotment of equity shares and warrants on a preferential basis to the following:

1. Name of Allottee : MRCS Investment Holding Ltd
No. of Shares : 75464
No. of Warrants : 512536

2. Name of Allottee : MCCS Investment Holding Ltd
No. of Shares : 75464
No. of Warrants : 512536

3. Name of Allottee : Xander Investment Holding X Ltd
No. of Shares : 202456
No. of Warrants : 1375044

4. Name of Allottee : Pressman Estates & Investments Ltd
No. of Shares : Nil
No. of Warrants : 67575

5. Name of Allottee : Pressman Properties Ltd
No. of Shares : Nil
No. of Warrants : 67575

The Equity Shares of Rs 10 each was allotted at a premium of Rs 162.50 per share.

Each warrant will entitle the holder to receive in one or more tranches, one equity share of face value of Rs 10 each of the Company, on or before expiry of 18 months from the date of allotment at a premium of Rs 162.50 per share.

Resignation & Appointment of Directors:

Mr. S M Borar, Mr. Prabir Chakravarti and Mr. Sushil Kumar Mor resigned as Directors of the Company.

Five new Directors namely : Mr. Rohan Suchanti, Mr. Siddhartha Yog, Mr. Rohan Sikri, Mr. Hardeep Sachdeva and Mr. Randhir Narayan were appointed.