Precision Wires India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 28, 2008, inter alia, has taken the following decisions:

1. On the basis of recommendation of the Remuneration Committee of the Board, made at its meeting held on April 28, 2008, the Board has re-appointed Shri. Mahendra R Mehta as the Chairman and Managing Director of the Company for a period of Three years from October 01, 2008 to September 30, 2011, subject to the approval of the Company in General Meeting and such other approvals and sanctions as may be necessary in law.

2. The Board has approved expansion of the present capacity by 8000 MT/PA, at the cost of Rs 30 Crores and the same will come on stream in phases by March 2010.