Coral India Finance & Housing Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 27, 2008, inter alia, has taken the following decision

1. The Board decided not to recommend any dividend for the year 2007-2008.

2. In view of the current market conditions the proposed allottees of Preferential Allotment of Warrants, have shown their unwillingness for subscription of 36 Lacs of convertible warrants was taken on record by the Board. Hence the Board of Directors unanimously decided not to issue any convertible warrants on Preferential basis to any persons / body corporate in terms of special resolution passed at the Extraordinary General Meeting by the shareholders held on December 24, 2007.