Shri Lakshmi Cotsyn - Board Meeting On May 31, 2007

Shri Lakshmi Cotsyn Ltd has informed that a meeting of the Board of Directors of the Company will be held on May 31, 2007, inter alia, to consider the issue of Foreign Currency Convertible Bonds (FCCB), Global Depository Receipts (GDRs) and / or American Depository Receipts (ADRs) for an aggregate sum of USD 20 million.