Cyber Media - Outcome Of Board Meeting

Cyber Media India Ltd has informed that the Board of Directors of the Company at its meeting held on May 08, 2007, inter-alia, has passed the following resolutions, subject to approval of shareholders, the provisions of the Listing Agreements, the Guidelines issued by the Securities and Exchange Board of India and all such approvals, permissions and sanctions as may be necessary: 1. To increase the authorized capital of the Company from present Rs 11 crore to Rs 12.5 crore and alter the capital clause of the Memorandum of Association.2. To alter the Articles of Association by insertion of a clause authorizing issuance of warrants convertible into equity shares.3. To issue 10,00,124 warrants convertible into equity shares to the Promoters.4. To obtain in-principle approval for listing of shares issued pursuant to conversion of warrants.