Apeejay Tea - Outcome Of AGM

Apeejay Tea Ltd has informed that the members at the Annual General Meeting (AGM) of the Company held on September 28, 2007, inter alia, have approved and passed the following:

1. Adoption of the Profit and Loss Account for the year ended March 31, 2007 and Balance Sheet as on that date together with the reports of the Directors and the Auditors thereon.

2. Re-appointment of Mr. Jit Paul and Mr. Karan Paul as Directors of the Company.

3. Appointment of Messrs. Price Waterhouse as Auditors of the Company for the financial year ended March 31, 2008.

4. Modification in remuneration of Mr. A K Bhargava, Executive Director of the Company for 2 years w.e.f. April 01, 2007.

5. Re-appointment of Mr. Wilson Browne as Whole-Time Director of the Company fromApril 01, 2007 to September 26, 2007.

6. Ratification of increase in remuneration of Mr. A K Bhargava for 2006-07.