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Continental Controls Ltd has informed BSE that as directed by the High Court Judicature, Bombay, the meeting of the Equity shareholders of the Company has been held on May 24, 2008 to consider, and if deemed fit, to approve with or without modification of the scheme of arrangement for the demerger of software division of Continental Controls Ltd into Quest Softech (India) Ltd and scheme has been approved unanimously by the shareholders present there at.

Continental Controls Ltd has informed BSE that members of the Company have passed the following resolution by way of postal ballot, authorising the Board of Directors of the Company to Sale, deal, negotiate and dispose of the property situated at 5, Govt. Industrial Estate, Masat, Silvasa, Dadara Nagar Haveli, (U.T.) and for the purpose to sign, seal and deliver such instruments, assignments, contracts, deeds, conveyances or any other instruments that may be considered necessary usaual or proper for the Sale or other wise disposing of the Land which according to the directors may be considered beneficial and convenient for the Company.

Continental Controls Ltd has informed BSE that the members of the Company will consider to approve by way of Postal Ballot the Ordinary resolution for granted to Board of Directors of the Company to Sale, deal, negotiate and dispose of the property situated at 5, Govt. Industrial Estate, Masat, Silvasa, Dadara Nagar Haveli, (U.T.) and for the purpose to sign, seal and deliver such instruments, assignments, contracts, deeds any other instruments that may be considered necessary usual or proper for the Sale or other wise disposing of the Land which according to the directors may be considered beneficial and convenient for the Company.

Mr. Sanjay Doshi, F.C.S, Practicing Company Secretary, Mumbai has been appointed as a Scrutinizer for conducting the postal ballot process.

Duly completed Postal Ballot Form should reach the Company not later than the close of working hours on April 15, 2008. The Scrutinizer will submit his report to the chairman of the Company after completion of the scrutiny and the results of Postal Ballot will be announced on April 24, 2008.

Continental Controls Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 14, 2008, inter alia, has transacted the following business:

1. Board has approved the Demerger of the Computer Software Division of the Company into Quest Softech (India) Pvt Ltd (in the process of being converted into public Ltd Company).

2. The Appointed date being April 01, 2008 for the Scheme of Demerger.

3. Every shareholder holding two shares in CCL will be allotted one share in Quest Softech (India) Pvt Ltd. The share capital of Quest Softech (India) Pvt Ltd will be listed on the Bombay Stock Exchange. One share for every two shares held in CCL will be cancelled and thus the paid?up capital of CCL will be reduced by half.

Continental Controls Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on March 14, 2008, to consider and approve the Scheme of Arrangement between the Company and Quest Softech (India) Pvt Ltd and their respective Shareholders for demerger of the Company by transfer of its Software Services Division Undertaking to Quest Softech (India) Pvt Ltd.