Polar Industries - Outcome Of Board Meeting

Polar Industries Ltd has informed that the Board of Directors of the Company at its meeting held on March 28, 2007, had approved the appointment of M/s. Asia Pacific Brands India Ltd, Mumbai (APBIL) as Distributor of POLAR products.The necessary formalities relating to the said appointment including entering into Distributorship Agreement have been duly competed on April 05, 2007.Further, the Company has terminated the subsisting Selling Agency Agreement relating to sale of POLAR products with Polar International Ltd, w.e.f. April 02, 2007.