Indiabulls Financial - Board Meeting on Feb 15, 2007

Indiabulls Financial Services Ltd has informed that a meeting of the Board of Directors of the Company will be held on February 15, 2007, to consider a composite scheme of arrangement under Sections 391-394 of the Companies Act 1956, involving the amalgamation of Indiabulls Credit Services Ltd with the Company and the demerger of the securities trading and advisory business undertaking of the Company to Indiabulls Securities Ltd. The Board will also consider the reports of the independent valuers, PriceWaterhouseCoopers and Dalal & Shah, who have been appointed to recommend the share exchange ratio and the share entitlement ratio for the amalgamation and demerger respectively