Mahindra & Mahindra Financial - Outcome Of Board Meeting

Mahindra & Mahindra Financial Services Ltd has informed that the Board of Directors of the Company at its meeting held on April 24, 2007 has approved the issue of Preference Shares upto an amount not exceeding Rs 50 crores on a private placement basis on such terms and conditions as may be decided at the time of issue subject to the approval of members at the Annual General Meeting.