Syncom Formulations India Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on March 25, 2008, inter alia, to transact the following:

1. Amended / modified from time to time (”SEBI DIP Guidelines”) 3,10,000 (Three Lakhs Ten Thousand) Equity Shares of Rs 10/- (Rupees Ten only) each (”Equity Shares”), fully paid-up by way of preferential allotment at a premium of Rs 36/- (Rupees Thirty Six only) per Equity Share aggregating to Rs 1,42,60,000 (Rupees One Crores Forty Two Lacs Sixty Thousand only) be allotted to Shri. Kedarmal Bankda, the promoters of the Company, subject to necessary provisions & approvals.

2. Amended / modified from time to time (”SEBI DIP Guidelines”), and any other statutory or regulatory authorities and subject to all necessary approvals, consents, permissions and / or sanctions as may be necessary and subject to any such conditions and modifications as may be prescribed or imposed by any one or more of them while granting any such approvals, consents, permissions or sanctions agreed to by the Board of directors of the Company (the “Board”, which term shall be deemed to include any Committee on the Board by this resolution), 3,25,000 (Three Lacs Twenty Five Thousand) warrants of Rs 46/- each (Rs Forty Six) convertible into equity shares of Rs 10/- each at a premium of Rs 36/- per shares upon receipt of upfront amount of Rs 4.60 (Re Four and Paise Sixty only) per Warrant be allotted to Shri. Rahul Bankda, the person acting in concert with them on preferential allotment basis on the necessary provisions & approvals.