United Credit - Outcome Of Board Meeting

United Credit Ltd has informed that the Board of Directors of the Company at its meeting held on March 27, 2007, the Company is proceeding to acquire 255100 Equity Shares of Rs 10/- each of United Nanotechnologies Pvt Ltd.In view of this acquisition of shares by the Company, United Nanotechnologies Pvt Ltd will become a wholly owned subsidiary of the Company.