Syncom Formulations India Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on March 25, 2008, inter alia, to consider and determine the following businesses:

1. Allotment of 3,10,000 (Three Lakhs Ten Thousand) Equity Shares of Rs 10/- (Rupees Ten only) each by way of preferential allotment, at a premium of Rs 36/- (Rupees Thirty Six only) per Equity Share aggregating to Rs 142.60 Lacs (Rupees One Crores Forty Two Lacs Sixty Thousand only) to Shri. Kedarmal Bankda, the promoters of the Company, and that the Equity Shares so allotted shall rank pari passu in all respects including entitlement for dividend / interim dividend if any with the existing equity shares of the Company.

2. Allotment of 3,25,000 (Three Lacs Twenty Five Thousand) Warrants of Rs 46/- each (Rs
Forty Six) convertible into equity shares of Rs 10/- each to the person acting in concert with the promoters on preferential allotment basis convertible into Equity Shares of Rs 10 (Rs Ten only) at a premium of Rs 36/- per share per Warrant, in accordance with SEBI (DIP)
Guidelines and other relevant provisions as may be applicable.