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Champagne Indage Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 30, 2008, inter alia, has transacted the following business:

1. Recommended Dividend of 22% i.e. Rs 2.20/- per equity share for the year ended on March 31, 2008 on equity shares of Rs 10/- of the Company.

2. Increase in borrowing powers from Rs 500/- crores to Rs 2000/- crores, subject to the approval of the shareholders of the Company.

3. Increase in remuneration of Mr. Ranjit Chougule, Managing Director.

Champagne Indage Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 17, 2008, inter alia, has approved in principle, subject to the consent of Members and other Regulatory approvals, the raising of long term / medium term financial resources upto a sum of USD 50 million in one or more tranches by issue, offer and allotment of securities including Global Depository Receipts / shares (GDR’s), Foreign Currency Convertible Bonds (FCCB’s), Convertible Bonds / Debentures Euro-convertible Bonds, Preference Shares and / or Securities whether Partly Convertible or fully convertible into Equity Shares and / or Securities linked to Equity Shares and / or any Instrument or Securities with or without detachable warrants, or such other type of securities representing either Equity Shares or Convertible Securities, in India or in one or more Foreign Market(s) to be subscribed in one or more Foreign Currency(ies)/ Rupee by Foreign / Domestic Investors, or by existing shareholders as may be decided by the Board, whether or not such investors are members of the Company, through prospectus, offering letter, Circular, memorandum to the general public or on private placement basis and / or rights basis, and / or through any other permissible mode.

With reference to the earlier announcement dated June 10, 2008, regarding Board Meeting on June 10, 2008, inter alia, for considering the raising of long term / medium term financial resources, etc, Champagne Indage Ltd has now informed BSE that inadvertently, the date of the proposed Board Meeting has been mentioned as “June 10, 2008″. The same should be read as “June 17, 2008″.

Champagne Indage Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on June 10, 2008, inter alia, to consider the raising of long term / medium term financial resources upto a sum of USD 50 million in one or more tranches by issue, offer and allotment of securities including Global Depository Receipts / shares (GDR’s), Foreign Currency Convertible Bonds (FCCB’s ), Convertible Bonds / Debentures Euro-convertible Bonds, Preference Shares and / or Securities whether Partly Convertible or fully convertible into Equity Shares and / or Securities linked to Equity Shares and / or any instrument or Securities with or without detachable warrants, or such other type of securities representing either Equity Shares or Convertible Securities, in India or in one or more Foreign Market(s) to be subscribed in one or more Foreign Currency(ies) / Rupee by Foreign / Domestic Investors, or by existing shareholders as may be decided by the Board, whether or not such investors are members of the Company, through prospectus, offering letter, Circular, memorandum to the general public or on private placement basis and / or rights basis, and / or through any other permissible mode.

Champagne Indage Ltd (CIL) has informed BSE that Company’s 100 percent overseas subsidiaries have continued with their global acquisition plans adding strategically important business takeovers. The subsidiaries now have entered into arrangements to acquire wine businesses in various global wine producing regions viz. South Africa, U.K. and South Australia. These acquisitions, when completed, will add up to the bottling capacities in the UK and wine businesses in other parts, of a capacity of over 90 mn ltrs. CIL, on a consolidated basis, with the above planned acquisitions, will have control over about 200 mn ltrs capacity worldwide.

Champagne Indage Ltd has informed BSE that the Executive Committee of Board of Directors, at its meeting held on April 01, 2008 has issued and allotted 6,85,000 Equity Shares of Rs 10/- each at a premium of Rs 325/- per Equity Share to M/s. Indage Engineering Pvt Ltd. These shares have been allotted against conversion of equivalent number of Equity Share Warrants allotted on October 02, 2006 and are eligible for conversion pursuant to the approval granted by the Shareholders at the Annual General Meeting held on September 18, 2006.

Consequent upon the allotment of 6,85,000 Equity Shares as aforesaid, the Issued, Subscribed and Paid Up Share Capital of the Company shall stand increased to Rs 15,26,76,210/- (Rupees Fifteen crores twenty six lacs seventy six thousand two hundred only) divided into 15267621 Equity shares of Rs 10/- each.

Champagne Indage Ltd has informed BSE that the Executive Committee of Board of Directors at its meeting held on March 29, 2008 has issued and allotted 18,80,000 Equity Shares of Rs 10/- each at a premium of Rs 325/- per Equity Share to the allottees mentioned below. These shares have been allotted against conversion of equivalent number of Equity Share Warrants allotted on October 02, 2006 and are eligible for conversion pursuant to the approval granted by the Shareholders at the Annual General Meeting held on September 18, 2006 and in-principle approval granted by the Bombay Stock Exchange Ltd vide its letter dated September 19, 2006.

1. Chandresh Sheth : 45,000 No. of Equity Shares allotted

2. Indage Engineering Pvt Ltd : 635000 No. of Equity Shares allotted

3. Indrayani Properties Pvt Ltd : 500000 No. of Equity Shares allotted

4. Napashvya Financial Consultants Pvt Ltd : 565000 No. of Equity Shares allotted

5. Shivanand Manekar Jt. with Laxmi Shivanand Mankekar : 135000 No. of Equity Shares allotted

Consequent upon the allotment of 18,80,000 Equity Shares as aforesaid, the Issued, Subscribed and Paid up Share Capital of the Company shall stand increased to Rs 14,58,26,210/- (Rupees Fourteen crores fifty eight lacs twenty six thousand two hundred ten only) divided into 14582621 Equity shares of Rs 10/- each.

Champagne Indage Ltd has informed BSE that the Company through its subsidiary, has entered into an arrangement which can potentially result into ownership of an identified Wine Business in South Australia with a current production capacity of 90 Million Ltrs (10 million cases) in an all cash deal. The Company will, along with its subsidiaries, consolidate all such businesses to have a greater impact on profitability and a strengthened position in global wine markets. The Company aims to earmark resources of upto USD 70 Million to keep acquiring such strategically important businesses.