Bombay Rayon - Outcome Of Board Meeting

Bombay Rayon Fashions Ltd has informed that the Board of Directors of the Company at its meeting held on February 22, 2007, inter alia, has approved, the acquisition of 420 Ordinary Shares (70% of total capital) at a consideration of £ 1.54 million of DPJ Clothing Ltd, a Company engaged in the business of wholesale marketing & distribution of clothing products and incorporated under English Companies Act, 1985 having its place of business and Registered office at Northfield, Birmingham. With this acquisition, DPJ Clothing Ltd has became a foreign subsidiary of the Company.