Silverline Technologies - Outcome Of Board Meeting

Silverline Technologies Ltd has informed that the Board of Directors of the Company at its meeting held on February 08, 2007, inter alia, has resolved the following: - Setting Up of a joint venture with Sultanate of Oman for the purpose of setting up IT /ITES / Animation, IT Education and Training Services.- The proposed JV will be 51% owned by the Company and 49% owned by Omani Partners and Local Oman Institutions.- The JV will have investments to the tune of USD 10 M, the project will be made operation by Third Quarter of 2007.- All the infrastructure requirements of the proposed JV will be borne by Omani Partners.