Emco - Outcome Of Board Meeting

Emco Ltd has informed that the Board of Directors of the Company at its meeting held on October 19, 2007, inter alia, has approved the following:

1. To issue 17,00,000 (Seventeen Lacs only) Warrants to Mr. Shailesh Jain, Promoter who is also Managing Director of the Company, carrying an option to acquire equivalent number of equity shares of the Company at a price which shall not be lower than the minimum price specified as per SEBI Guidelines for Preferential Issues (Chapter XIII of the SEBI (Disclosure and Investor Protection) Guidelines, 2000), considering 30 days prior to the date of this general meeting as the Relevant Date, but not less than Rs 1,150/- (Rupees One Thousand One Hundred Fifty Only) per equity share of Rs 10 each. Accordingly, it was decided to convene an Extra Ordinary General Meeting of the members of the Company to be held on November 13, 2007.

2. To allot 34,100 (Thirty Four Thousand One Hundred only) equity shares to the employees of the Company who have exercised the option pursuant to the Employees Stock Option Scheme (ESOS), 2006.