Accentia Technologies - Outcome Of Board Meeting

Accentia Technologies Ltd has informed that the Board of Directors of the Company at its meeting held on October 27, 2007, inter alia, has transacted the following:1. The Board of Directors has accorded their consent for allotment of 12,41,969 equity shares formally to M/s. Berggruen AP, Mauritius.2. The Company has received in-principle approval for allotting equity shares on preferential basis to M/s. Berggruen AP, Mauritius for an amount equivalent of USD 5,000,000 equity shares numbering 12,41,969.3. M/s. Berggruen AP, Mauritius is a venture of Berggruen Holdings, A Global Investment Fund investing internationally in an extensive range of asset classes including private equity.