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HEG Ltd has informed BSE that that the Allotment Committee of Directors of the Company allotted 47,30,000 Warrants at a price of Rs 365/- each with an option of conversion of each Warrant into One Equity Share of Rs 10/- each within a period of 18 months from the date of issue and allotment to Promoters, Directors and Persons acting in concert, which includes Associates, Relatives and Friends of such Promoters and Directors and Employees of the Company, Group Companies and Associate Companies.

The aforesaid preferential issue had been approved by shareholders at their meeting held on March 03, 2008.

HEG Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 05, 2008, inter alia, have approved expansion of capacity from current level of 60,000 TPA to 80,000 TPA at a cost of Rs 190 crores at its Graphite Plant at Mandideep. With this expansion the Company will become as the worlds largest graphite electrode producer at a single location.

HEG Ltd has informed BSE that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 03, 2008, have unanimously approved the following:

1. By way of special resolutions:-

To create, offer, allot and issue on preferential basis

i. 60,00,000 Warrants of Rs 365/- each aggregating to Rs 2,19,00,00,000/- (Rupees Two Hundred Nineteen Crores Only) with option of conversion of each Warrant into One Equity Share of Rs 10/? each within a period of 18 months from the date of issue and allotment to Promoters, Directors and Persons acting in concert, which includes Associates, Relatives and Friends of such Promoters and Directors.

ii. 3,40,000 Warrants of Rs 365/- each aggregating to Rs 12,41,00,000/- (Rupees
Twelve Crores Forty One Lacs Only) with option of conversion of each Warrant into One Equity Share of Rs 10/- each within a period of 18 months from the date of issue and allotment to Employees of the Company, Group Companies and Associates Companies;

subject to the compliance of applicable laws and provisions in this regard.

2. By way of ordinary resolution:-

Appointment of Mr. R C Surana, Executive Director of the Company for a period of 5 (Five) years w.e.f. January 29, 2008.

HEG Ltd has informed BSE that the Company holds 35.79% of the equity Share Capital of Bhilwara Energy Ltd (”BEL”). BEL has presently developed / developing power projects with total capacity of approximately 2717 MW. BEL is also considering bidding for additional power projects. BEL may undertake a private placement of its debt or equity securities to finance its expansion.