Fortune Financial Services India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 12, 2008, inter alia, has transacted the following business:

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.