Titagarh Wagons Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 18, 2008, has considered and approved the following:

1. Agreement(s) to invest in a Joint Venture Company for the purpose of ensuring supply of critical components required for manufacture of Railway Wagons by the Company; and

2. Payment of an installment of dues of workmen of Cimmco Birla Ltd (CBL) in terms of a tripartite agreement among Workmen / Union of Workmen, Labour Department, State Government, Rajasthan, and the Company, in furtherance of revival in strategic partnership with JP Morgan Mauritius Holdings Ltd, of CBL subject to approval of the Board of Industrial and Financial Reconstruction (BIFR) subsequent to submission of a draft Scheme of Revival.