GMDC - Outcome Of Board Meeting

Gujarat Mineral Development Corporation Ltd (GMDC) has informed that the Board of Directors of the Company at its meeting held on April 30, 2007, inter alia, has resolved to spilt the shares of the Company in the ratio of 1:5 after necessary approvals.The Company has executed an MoU with Reliance Industries Ltd to set up a Joint Venture (51% RIL - 49% GMDC) to undertake lignite / coal gasification projects.