Shri Lakshmi Cotsyn Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 31, 2008, has decided the following:

1. Revised the cost of Project from Rs 310 Crores to Rs 350 Crores in view of increased Captive Co-generation Power Project cost and currency fluctuation.

2. In view of present volatile market condition of Capital Market, the Company has decided to raise the quantum of Term Loan from Rs 100 Crores to Rs 170 Crores and balance Rs 180 Crores by way of QIP, PE/PP, FCCB, GDR’s/ADR’s, Share Warrants etc.

3. The Project of Smart Textiles i.e. Smart Vests and Smart Jackets with the use of Nano-Technology was discussed in detail in presence of Dr. G N Mathur (already engaged in research work in U.S.A. on Nano Technology) and Dr. J V Rao (Director of Northern India Textiles Research Association). The Board authorised Dr. M P Agarwal to obtain its technology to develop Nano-Carbon Sensors for Smart and Medical Textiles.

4. Declared M/S. Asian Pacific Continental Pvt Ltd in the Promoter Group on the basis of the Shareholding Pattern/Persons Acting in Concert.