Gujarat Ambuja Exports - Outcome of Board Meeting

Gujarat Ambuja Exports Ltd has informed the Audit Committee and Board of Directors of the Company at its meeting held on January 16, 2007, inter alia, has considered and approved the following:1. Approved buy back of Equity Shares aggregating to Rs 26.25 Crores i.e. amount not exceeding 10% of the paid up share capital and free reserves at maximum buy back price of Rs 38/- per Equity Share under Open Market through Stock Exchange Method.2. Approved and ratified the appointment of Merchant Bankers M/s. Keynote Corporate Services Ltd for Buy back of Equity Shares.3. Considered and approved all other routine agenda as circulated for respective meetings.