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Gufic Biosciences Ltd has informed BSE that the members at the 23rd Annual General Meeting (AGM) of the Company held on March 31, 2008, inter alia, have accorded the following:

1. Adoption of the Audited Balance Sheet as at March 31, 2007, the Profit and Loss Account for the year ended as on that date and the Reports of the Board of Directors and the Auditors thereon.

2. Declaration of Dividend @ 5% on Equity Shares.

3. Re-appointment of Mr. Pranav Choksi & Dr. Sharat Gandhi as Directors of the Company.

4. Re-appointment of M/s. Mayur Chokshi & Co., Chartered Accountant, as Statutory Auditor of the Company.

5. Appointment of Dr. Mahalingappa Dhapalapur as a Director of the Company.

6. The members fixed remuneration of Dr. Mahalingappa Dhapalapur as Director of the Company.

7. The Members are informed and the results of the Postal Ballot are put before the Members of the Company, wherein the resolution was passed u/s 293(1) of the Companies Act, 1956, relating to sale, of the Company’s Personal Hygiene Division located at Baroda, Gujarat.

Gufic Biosciences Ltd has informed BSE that the members of the Company by way of Postal Ballot have passed the Ordinary Resolution relating to sale, of the Company’s Personal Hygiene Division located Baroda (Gujarat), with requisite majority.

Further the Company has informed that, the Company has entered into an agreement for sale and transfer of the abovementioned Personal Hygiene Division as a going concern for lump sum Consideration.

Gufic Biosciences Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from March 25, 2008 to March 31, 2008 (both days inclusive) for the purpose of payment of dividend & Annual General Meeting (AGM) of the Company to be held on March 31, 2008.