Arvind Mills - Outcome Of Board Meeting

Arvind Mills Ltd has informed that the Board of Directors of the Company at its meeting held on May 12, 2007, inter alia, has not recommended any dividend on equity shares for the year ended on March 31, 2007.Further the Company has informed that, the Board of Directors of the Company has approved, subject to receipt of necessary approvals, including the approval of High Court of Gujarat under Section 391 to 394 of the Companies Act, 1956, a Scheme of Arrangement by way of de-merger of its undertaking comprising of Public Mobile Radio Trunking Services Business (PMRTS) for a consideration not Less than book value of the said division into its Joint Venture Company Arya Omnitalk Radio Trunking Services Pvt Ltd.