Ushdev International - Outcome Of Board Meeting

Ushdev International Ltd has informed that the Board of Directors of the Company at its meeting held on April 17, 2007, has decided to raise further issue of capital by issue of right shares to be offered to the existing shareholders of the Company. The Company has authorised Mr. Vijay Gupta, Managing Director of the Company to decide regarding the ratio and price of issue in consultation with the merchant bankers and report to the Board of Directors at its next Board Meeting.