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1. To consider the Name approved by the Registrar of Companies, Maharashtra, in respect to the application made to the same.

2. To approve the Notice of the Resolutions proposed to be passed by Postal Ballot, and to authorise two Directors of the Company, to be responsible for the process.

3. To discuss the resignation of Mr. Anil Rajgarhia, Director who has placed his resignation before the Company.

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1. To issue 11,00,000 Equity Shares of Rs 10/- each on Preferential basis under Section
81(1A) of the Companies Act, 1956 to the Strategic Investor(s).

2. To issue 4,00,000 Equity Warrants to the Promoters & Promoter Group.

3. To Alter the Articles of Association by inserting a new Article 51(A) after the existing Article no.

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1. To Approve the Draft MOU between Shyam Star Gems Ltd & Thamina Diamonds International DMCC, Dubai for acquiring stake in Thamina Diamonds International DMCC.

2. To raise the fund required for acquiring stake in Thamina Diamonds International DMCC, by various Instruments available & to call the EGM for that.

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Press Release:

“PT. Antam Tbk & Jindal Stainless Ltd have today signed a Joint Venture Agreement to develop a nickel smelting and stainless steel facility in North Konawe, South East Sulawesi. Antam will have a 55% interest in the project with Jindal owning a 45% share.

Initially the project is planned to have a capacity of around 20,000 tonnes per annum (tpa) of contained nickel in ferronickel and around 250,000 tpa for stainless steel, mainly the high quality 300 Series. Based on a proposed market survey to be commissioned soon, the final end product may be stainless steel slabs or possibly stainless steel long products.

Antam will contribute its mining and nickel processing expertise as well as its local knowledge and experience while Jindal will contribute its stainless steel processing and marketing expertise as well as its global marketing network for the sales and distribution of the joint venture’s products.

The integrated project shall process nickel ore from Antam’s Mandiodo concession, which has an average nickel grade of about 1.5%. In addition to nickel smelting and stainless steel, the facility will also include its own coal-based captive power plant, water treatment plant, seaport and other necessary infrastructure including residential facilities for its employees. This project may be the first time any where in the world where a stainless steel processing mill is located together with a nickel plant and mine. This arrangement may result in very significant cost savings and shall make the venture highly competitive. Total investment is estimated at about USD 700 Million which will be funded with an optimum mix of Debt and Equity.

A Joint Team between the Companies is getting formed to establish the Joint Venture Company which may be called as PT. Antam Jindal Stainless Indonesia. Construction activities of the Complex may start from early of 2009. The Complex is expected to be commissioned by middle of 2011.

For Antam, this project is part of its business strategy of product diversification to improve shareholders’ value. This project also helps the industrial development of Indonesia as it involves the processing of natural resources within the country, creating maximum value compared to simply exporting ore.

As for Jindal, who already has a Stainless Steel Cold Rolling Complex in Indonesia for several years, the development of the project is part of their business strategy to become one of the leading player in the Stainless Steel industry globally.”

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The Unaudited results for the Quarter ended March 31, 2008

The Company has posted a net profit of Rs 513.70 million for the quarter ended March 31, 2008 as compared to Rs 333.10 million for the quarter ended March 31, 2007. Total Income has increased from Rs 9482.60 million for the quarter ended March 31, 2007 to Rs 13892.90 million for the quarter ended March 31, 2008.

The Audited results for the Year ended March 31, 2008

The Company has posted a net profit of Rs 1581.50 million for the year ended March 31, 2008 as compared to Rs 1487.40 million for the year ended March 31, 2007. Total Income has increased from Rs 35715.20 million for the year ended March 31, 2007 to Rs 52363.60 million for the year ended March 31, 2008.

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At the abovesaid Meeting the Board will also review its earlier decision for issue of
Convertible Warrants to the Promoters Group of upto Rs 300 crores and will also consider alternate proposals for fund raising.

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1. To scale down & vary the terms of the issue of 39,30,000 Equity Shares on a preferential basis as follows:

(i) Indu Kasat USA : 7,80,000 No of Shares
(ii) Shewta Harit UK : Nil
(iii) Shagun Harit UK : Nil

Hence now the issue of equity shares on preferential basis will be reduced to 780000 Equity shares of Rs 10/- each.

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