Television Eighteen - Outcome Of EGM

Television Eighteen India Ltd has informed that the shareholders at the Extra Ordinary General Meeting (EGM) of the Company held on October 06, 2007, have accorded their consent (by special resolution) to the issue of 50,00,000 Convertible Warrants to Network 18 India Holdings Pvt Ltd, a wholly owned subsidiary of Network 18 Fincap Ltd on Preferential Placement basis at a price of Rs 796/- each. The Warrant Holder shall be entitled to receive on conversion one equity share of Rs 5/ each at a premium of Rs 791/- for every Convertible Warrant held.

Further, the Warrant Holder shall also be entitled to future bonus / right issues, if any of the equity shares or other securities convertible into equity shares of the Company in the same proportion and manner as any other shareholder of the Company and the Company shall reserve proportion of such entitlement for the Warrant Holders.