Magma Leasing - Outcome of Board Meeting

Magma Leasing Ltd has informed that the Board of Directors of the Company at its meeting held on June 15, 2007, has resolved the following issues:1. Approved the alteration in the Objects Clause of the Company.2. Intends to carry out the abovementioned change through the route of Postal Ballot pursuant to the provisions of Section 192A of the Companies Act, 1956 and the Companies (Passing of Resolution by Postal Ballot) Rules, 2001.3. M/s. A K Labh & Co, Company Secretaries, Kolkata have been appointed as the Scrutinizer for the said Postal Ballot in accordance with the guidelines specified in this regard.4. The Postal Ballots shall be dispatched to the Equity Shareholders of the Company as on the June 22, 2007 by the June 26, 2007 and the date of declaration of result of Postal Ballot shall be the August 03, 2007.