Suryalata Spinning - Outcome 0f Board Meeting

Suryalata Spinning Mills Ltd has informed that the Company has redeemed, in pursuant to section 95 of the Companies Act, 1956, 1,00,000, 12% Cumulative Redeemable Preference Shares of Rs 100/- each on January 30, 2007.The Board of Directors of the Company at its meeting held on January 31, 2007, has allotted 1,00,000, 8% Cumulative Redeemable Preference Shares (CRPS) of Rs 100/ each aggregating to Rs 1,00,00,000 for a period of 7 years to the promoters of the Company.As on the date the preference share capital after redemption and above allotment is Rs 2,52,25,000.