Housing Development & Infrastructure Ltd (HDIL) has informed BSE that the Board of Directors of the Company at its meeting held on May 21, 2008, inter alia, has considered and approved the following matters subject to approval of the shareholders:

1. Appointment of two independent directors.

2. Investment in shares of subsidiary Companies.

3. To pass the Resolutions by way of postal ballot with respect to following business:

- Alternation of object clause.

- Increase in FII limit.

- Increase in borrowing powers.