Balaji Distilleries - Outcome Of Board Meeting

Balaji Distilleries Ltd has informed that the Board of Directors of the Company at its meeting held on August 11, 2007, has approved the following:

1. Re-classification of the existing authorised share capital of the Company, subject to the approval of the shareholders.

2. Issue of upto 9 crore convertible warrants under a preferential offer on private placement basis to the select group of persons, subject to the approval of the shareholders and compliance of SEBI (Disclosure & Investor Protection) Guidelines, 2000.