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Baba Arts Ltd has informed BSE that Shri. Gordhan P Tanwani belonging to the Promoter Group has exercised 100000 Optionally Fully convertible Warrants by making balance payment of Rs 39.60 per Warrant.

Further the Company has informed that, Shri. Ajay Devgan noted Film Star has exercised 100000 Optional Fully Convertible Warrants by making balance payment of Rs 39.60 per warrant.

The Board of Directors will shortly meet to allot 200000 Equity Shares in the Capital of the Company to Shri. Gordhan P Tanwani and Shri. Ajay Devgan (100000 Each) against exercise of the Warrants.

Baba Arts Ltd has informed BSE that Shri. Gordhan P Tanwani belonging to the Promoter Group has exercised 100000 Optionally Fully Convertible Warrants by making balance payment of Rs 39.60 per warrant.

The Board of Directors will shortly meet to allot 100000 Equity Shares in the Capital of the Company to Shri. Gordhan P Tanwani against exercise of the Warrants.

Baba Arts Ltd has informed BSE that Shri Raju P Tanwani belonging to the Promoter Group has exercised 300000 Optionally Fully Convertible Warrants by making balance payment of Rs 39.60 per warrant.

Further the Company has informed that the Board of Directors will shortly meet to allot 300000 Equity Shares in the Capital of the Company to Shri Raju P Tanwani against exercise of the Warrants.

Baba Arts Ltd has informed BSE that the Board of Directors of the Company vide Circular Resolution effective June 26, 2008, have allotted 6,00,000 equity shares of Rs 4/- each for cash at a premium of Rs 40/- per share (price of Rs 44/- per share) to Shri. Gordhan P Tanwani, Promoter of the Company against exercise of Optionally Fully Convertible Warrants held by him.

Baba Arts Ltd has informed BSE that Mr. Gordhan P Tanwani belonging to the Promoter Group has exercised 600000 Optionally Fully Convertible Warrants by making balance payment of Rs 39.60 per warrant.

The Board of Directors will shortly meet to allot 600000 Equity Shares in the Capital of the Company to Mr. Gordhan P Tanwani against exercise of the Warrants.

Baba Arts Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 27, 2008, inter alia, to consider the following business:

1. To consider and approve the Audited Financial Results for the year ended March 31,
2008.

2. To consider declaration of dividend on equity shares for the year ended March 31, 2008.

Baba Arts Ltd has informed BSE that Mr. Rajnish Khanuja has resigned as Director of the Company with immediate effect.

Further the Company has informed that, the Board of Director of the Company vide Circular Resolution effective March 25, 2008 have appointed Mr. Santosh A Shah as an Additional Director of the company w.e.f. March 25, 2008.