MSK Projects - EGM On Aug 27, 2007

MSK Projects India Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on August 27, 2007, inter alia, have accorded to the following:

1. Increase in the Authorised Share Capital of the Company from Rs 19,50,00,000/- divided into 1,95,00,000 Equity Shares of Rs 10/- each to Rs 25,00,00,000/- divided into 2,50,00,000 Equity Shares of Rs 10/- each by creation of additional 55,00,000 Equity Shares of Rs 10/- each, ranking pari passu with the existing Equity Shares of the Company, by substituting the existing Clause V of the Memorandum of Association by following new clause:

V. The Authorised Capital of the Company is Rs 25,00,00,000/- divided into 2,50,00,000 Equity Shares of Rs 10/- each.

2. Alteration of the Article 3 of the Articles of Association of the Company by substituting the existing Article 3 by the following new Article:

3. The Authorised Capital of the Company shall be as specified in the Clause V of Memorandum of Association of the Company, with the Powers to the Board of Directors of the Company, to alter, increase or otherwise, as per the applicable provisions of the Companies Act, 1956 (including any statutory modifications or re-enactments thereof for the time being in force) and subject to this Articles of Association of the Company.

3. To issue, offer and allot upto 44,50,000 Equity Shares of Rs 10/- each at a price of Rs 84/- per share (Rs 10/- face value + Rs 74/- Premium) being the price which is in accordance with the SEBI (Disclosure & Investor Protection) Guidelines, 2000 to the following persons:

A. M/s. Subhkam Holdings Pvt Ltd : 40,00,000 (No. of Shares)

B. M/s. Ashka Construction Pvt Ltd : 03,00,000 (No. of Shares)

C. Brescon Corporate Advisor Pvt Ltd : 01,50,000 (No. of Shares).