Easun Reyrolle - Outcome Of Board Meeting

Easun Reyrolle Ltd has informed that the Board of Directors of the Company at its meeting held on June 25, 2007, has approved the acquisition of the Business of the Protection Relays and Power System Disturbance Recorders (Relay and Recorder) Division of Nxtphase T&D Corporation, Canada, as an ongoing business, including all the related Assets and liabilities of the Division.For the purpose of this acquisition, the Company is setting up a wholly owned subsidiary in Canada, under the name ERLPHASE Power Technologies Ltd, which will be responsible for conducting the business being acquired.NxtPhase (Relay and Recorder Division) is a fast growing and state-of-the-art technology business in North America providing Protection, Power System Recording and Wide Area Monitoring Solutions to Power Utilities in Americas and other Global markets. The target division has its Operations in Winnipeg, Canada and has its key customers and market presence in North America, South America, Europe, Australia, and Asian countries.