Mobile Tele - Outcome Of Board Meeting

Mobile Tele Communications Ltd has informed that the Board of Directors of the Company at its meeting held on April 26, 2007, inter alia, has taken following decisions:1. The Company has approved the acquisition of 50% stake in M/s Cynosure Enterprises Ltd (CEL), an e-Bike manufacturing company Based at Hyderabad. Cynosure Enterprises which started its operations for the first time in India in September 2006 and presently having two Plants in Hyderabad and Jaipur. By this acquisitions M/s Cynosure Enterprises Ltd will become a subsidiary of the Company.2. The Company had approved to commence the assembly of e-Bikes at its Nashik plant and also take-up the assembling at other locations in India.3. M/s Cynosure Enterprises Ltd has launched Docile plus model across the country and its product is well accepted in the market. CEL has Plans to Set up assembling of e-bikes across nine locations in India.