Dewan Housing Finance Corporation Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on February 06, 2008, inter alia, have accorded the following:

1. Authority to the Board to create, offer, Issue and allot in one or more tranches in the course of domestic / international offerings to one or more persons as the Board may determine at its absolute discretion, whether or not they are members of the Company, including but not limited to Qualified Institutional Buyers as defined under the provisions of SEBI Guidelines, whether Domestic Investors / Foreign Investors whether shareholders of the Company or not through Qualified Institution Placement (QIP) with or without an over-allotment option (green shoe),if any, equity shares and / or fully convertible Debentures / Partly Convertible Debentures and / or any other securities other than warrants which are at a later date convertible or exchangeable into equity shares at the option of the Company and / or holder(s) of the securities including Global Depository Receipts (GDRs ) and / or American Depository Receipts (ADRs) or a combination of the foregoing (Securities) secured or unsecured listed on any stock exchange Within India or any international stock exchange outside India through a public issue or on a private placement basis as the Board in its sole discretion may at any time or times hereafter decide, for an amount not exceeding Rs 200 crore (Rupees Two Hundred Crore only) (including green shoe, if any) and inclusive of such premium from time to time such issue and allotment to be made at such time or times denominated in one or more currencies at such price or prices in such manner and on such terms and conditions as the Board may in its absolute discretion deem fit, subject to necessary provisions & approvals.

2. Authority to the Board to create, offer, Issue and allot in one or more trenches, to M/s. Wadhawan Consolidated Holdings Pvt. Ltd, upto 19,00,000 Warrants (”Warrants”) on preferential allotment Conditions and in such manner as the Board may deem fit, each warrant entitling the holder thereof to apply for and to be allotted one (1) equity share of Rs 10/- per warrant, which conversion be made within a period not exceeding eighteen (18) months from the date of allotment of Warrants, in with SEBI Guidelines and other relevant guidelines as may be applicable, such that equity shares to be issued on exercise of Warrant so issued or allotted, give rise in aggregate up to 19,00,000 (Nineteen Lakh) equity shares of Rs.10/- each fully paid up at premium of not less than Rs 200 per equity shares of which a sum equivalent to at least [10%] of the price per Warrants would be payable at the time of allotment of warrants, and balance sum of [90%] of the price per warrant would be payable at the time of exercise of the option for acquiring the shares arising out of conversion of Warrants, subject to necessary provisions & approvals.

3. Authority to the Board for increase of Investment by foreign institutional investors, including their sub-accounts, in the shares of the Company, by subscription to or purchase or otherwise by acquiring from the market under portfolio investment scheme under FEMA, up to the limit of 40% of the paid-up equity share capital of the Company, subject to necessary provisions & approvals.