Mascon Global - Outcome Of Board Meeting

Mascon Global Ltd has informed that the Board of Directors of the Company at its meeting held on May 15, 2007, has considered and approved the following matters: Acquisition of Overseas Company / New BusinessesThe Board in its meeting held on January 18, 2007 and March 12, 2007 considered and In Principle approved the acquisition of 100% of the share capital of Target Company based in US and buying Specified Accounts and referred the matter to the Investment Committee for detailed evaluation as per the mandate of the Board. A note from the Investment Committee for acquisition of company and buying specified Accounts was placed before the Board. The Board after considering the valuation report from a Category I Merchant Banker and the recommendations of the Investment Committee approved the acquisition of Versatech Consulting Inc., USA and certain specified accounts at a valuation of US $ 38 million to be settled by a combination of own funds, debt and issue of GDRs.