Rico Auto - Outcome of Board Meeting

Rico Auto Industries Ltd has informed that the Board of Directors of the Company at its meeting held on June 16, 2007, inter alia, has approved the following:1. The Company has already distributed Interim Dividend @ 75% for the financial year ended March 31, 2007 and the Board has recommended that the same be treated as Final Dividend.2. Mr. John T Sheffler has resigned as a Director from the Board of the Company.