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SREI Infrastructure Finance Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on June 16, 2008, inter alia, to consider, approve and take on record the Audited Financial Results of the Company for the financial year ended March 31, 2008.

Further, the Company has informed that at the aforesaid meeting, the Board of Directors of the Company will also consider recommendation of dividend, subject to approval of the members at the ensuing Annual General Meeting of the Company.

SREI Infrastructure Finance Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 14, 2008, has inducted new Independent Directors namely, Mr. Daljit Mirchandani and Mr. Somabrata Mandal, on its Board with a view to broadbase the expertise of the Board. They have been inducted in place of Mr. R Sankaran and Mr. M S Verma. Mr. Hemant Kanoria will assume responsibility as Chairman & Managing Director of the Company.

Further, the Joint Venture (”JV”) between SREI Infrastructure Finance Ltd (”SREI”) and BNP Paribas Lease Group (”BNPLG”) which was announced last year, has started operations in April, 2008 under the name of “SREI Infrastructure Development Finance Pvt Ltd” (”SIDFPL”). The Board of Directors of SIDFPL comprises of Mr. Salil K Gupta, Chairman, Mr. Hemant Kanoria, Vice Chairman & Managing Director, Mr. Bertrand Gousset, Vice Chairman, Mr. Sunil Kanoria, Joint Managing Director, Mr. Frederic Amoudru and Mr. Thierry Bonetto.

SREI Infrastructure Finance Ltd has informed BSE that the annual audited financial results of the Company for the financial year ended March 31, 2008 would be approved by the Board of Directors of the Company and published within three months from the close of the financial year 2007-08 i.e. within June 30, 2008. In view of the afore the un-audited financial results of the Company for the quarter ended March 31, 2008 are not being published.

SREI Infrastructure Finance Ltd has informed BSE that the Joint Venture (”JV”) between SREI Infrastructure Finance Ltd (”SREI”) and BNP Paribas Lease Group which was announced last year, will start operations as of April 03, 2008. SREI, one of the leading equipment finance Companies in India, specialized in the infrastructure sector, had entered with BNP Paribas Lease Group, a 100% BNP Paribas subsidiary focused on equipment financing ? related services, into an agreement wherein the asset finance division of SREI is brought into a newly formed JV. The operation has been made through a reserved capital increase for BNP Paribas Lease Group towards its acquisition of a 50% stake in the JV whilst SREI remains holder of the remaining 50% of the equity capital.

BNP Paribas Lease Group brings to the JV its specialized equipment finance skills, its international experience combined with the global strength of BNP Paribas. The JV will also benefit from the significant brand value that SREI has already created in the Indian infrastructure equipment sector.

SREI is already the largest player in the financing of infrastructure equipment in India and the partnership with BNP Paribas Lease Group is aimed at increasing further the leadership of the business in its core market whilst expanding the product line further into financing of agriculture, information technology and medical and other equipment. Furthermore, this partnership is also expected to result in a reduction in the cost of funding the operations.

The JV has received all necessary legal and statutory clearances.

Speaking on this occasion, Hemant Kanoria, Vice Chairman & Managing Director of SREI, said “This joint venture between BNP Paribas, one of the largest global banking institutions, and SREI will result in strengthening one of the strong equipment financing institutions which would immensely benefit all stakeholders. In SREI’s journey towards being the largest infrastructure financial institution with all financial products and services, it is an important milestone. With this, our asset base as a group will multiply into billions of dollars.”

SREI Infrastructure Finance Ltd has informed BSE that the Company has received certified copy of the Order from the Hon’ble High Court at Kolkata sanctioning the Scheme of Arrangement between SREI Infrastructure Finance Ltd (Transferor Company (SIFL)) and SREI Infrastructure Development Finance Ltd (Transferee Company (SIDFL)). The Scheme has become effective from April 02, 2008, consequent upon filing of certified copy of the said order with the Registrar of Companies, West Bengal.

SREI Infrastructure Finance Ltd has informed BSE that the Committee of Directors of the Company at its meeting held on March 31, 2008 have allotted 72,00,000 Equity shares of Rs 10/- each of the Company at a premium of Rs 90/- per share in physical mode to M/s. Bharat Connect Ltd, an entity belonging to Promoters’ Group, on the exercise of their option for being allotted Equity Shares of the Company against 72,00,000 Warrants.

Further, the Company has also cancelled 72,00,000 Warrants held by M/s. Bharat Connect Ltd.

SREI Infrastructure Finance Ltd has informed BSE that a meeting of the Committee of Directors (CoD) of the Company will be held on March 31, 2008, inter alia, to consider allotment of 72,00,000 Equity shares of the Company of Rs 10/- each at a premium of Rs 90/- per share to M/s. Bharat Connect Ltd, an entity belonging to Promoters’ Group, who have exercised their option for being allotted Equity Shares of the Company against 72,00,000 Warrants held by them.