Global Broadcast - Outcome Of AGM

Global Broadcast News Ltd has informed that the shareholders at the Annual General Meeting (AGM) of the Company held on September 07, 2007, inter alia, have approved the following:

1. Balance Sheet, Profit & Loss Account, Directors Report and Auditors Report thereon.

2. Re-appointment of Mr. Raghav Bahl & Mr. Sanjay Ray Chaudhuri as Director of the Company.

3. Re-appointment of M/s. Deloitte Haskins and Sells, Chartered Accountants as statutory auditors of the Company.

4. Appointment of Mr. G K Arora, Mr. Hari S Bhartia, Mr. Shahzaad Dalal & Mr. Manoj Mohanka as Directors of the Company who had been appointed as additional Director during the year.

5. Alteration of the Articles of Association of the Company.

6. GBN Employee Stock Option Plan 2007 including approval to grant Stock Options to the employees / directors of Holing and Subsidiary Companies as well as authorization for granting of options more than 1% of the issued capital of the Company in any one year to any employee or Director of the Company or any employee or Director of the holding or subsidiary Company.

7. Issue of 30,00,000 convertible warrants.

While discussing this item, a view emerged among shareholders and management representatives that a wider participation would be desirable for such a material item, As such, it was felt that shareholders who were unable to physically participate in the proceedings may also be given the opportunity to vote on this item. Accordingly, it was unanimously decided to obtain shareholders consent via a postal ballot.