Cranes Software - Outcome of Board Meeting

Cranes Software International Ltd has informed that the Board of Directors of the Company at its meeting held on June 16, 2007, has approved the following:1. Acquisition of equity shares of Dunn Solutions Group, (DSG) a US technology based consultancy Company though its Wholly owned subsidiary in USA, Viz, Cranes Software Inc. and will invest Rs 600 mio approx in acquisition cost and immediate investments.2. Acquisition of the equity shares of Tilak Autotech Pvt Ltd, thereby making it a wholly owned subsidiary of the Company. The investment would entail about Rs 100 mio in acquisition cost and immediate investments.