Steel Strips Wheels Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on January 11, 2008, inter alia, to transact the following:

1. To offer, issue and allot, in one or more tranches and upon such terms and conditions as may be deemed appropriate by the Board, by way of preferential allotment upto 12,55,856 (Twelve lakh fifty five thousand eight hundred and fifty six) equity shares of Rs 10/- each for cash, at a price of Rs 170/- (Rupees one hundred and seventy) per equity share (i.e. at a premium of Rs 160/- per Share) to M/s. Kalimati Investment Company Ltd, (a wholly owned subsidiary of Tata Steel Ltd) a company incorporated under the companies Act, 1956, without offering the same to any other person who at the date of offer are holders of the Equity shares, subject to necessary provisions & approvals.

2. To offer, issue and allot, in one or more tranches and upon such terms and conditions as may be deemed appropriate by the Board, by way of preferential allotment up to 3,47,663 (three lakh forty seven thousand six hundred and sixty three) Convertible Warrant (”Warrants”) to Sh. Dheeraj Garg, the Managing Director and one of the Promoters of the Company, with an option to the holder of each such warrant to apply for and be allotted one fully paid up equity shares of the face value of Rs 10/- each, for cash at a price of Rs 170/- (Rupees one hundred and seventy only) per equity share (i.e. at a premium of Rs 160/- per equity share), at any time not exceeding 18 months from the date of allotment of the warrants in accordance with the SEBI (DIP) guidelines and other relevant authorities as may be applicable, to such extent on such terms and conditions as may be decided by the Board in accordance with Chapter XIII of SEBI (DIP Guidelines, 2000), subject to necessary provisions & approvals.