Adani Enterprises EGM Updates

Adani Enterprises Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on December 30, 2006, inter alia, have accorded to the following:

1. To increase the borrowing powers of the Company.

2. To issue, offer and allot, in the course of an international offering to eligible foreign investors (whether or not such investors are members of the Company), foreign currency convertible bonds / global depositary receipts / American depositary receipts or any other document or any process upto the aggregate principal amount of United States Dollars 250 million or its equivalent in one or more tranche or tranches (Securities), to be subscribed in foreign currency, which, at the option of the holders of the Securities may be converted into equity shares of the Company, subject to necessary provisions and approvals.