GTL Infrastructure - Outcome of EGM

GTL Infrastructure Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on November 16, 2007, inter alia, have accorded the following:

1. Approval of Shareholders for issuance upto 26,36,50,000/- (Twenty Six Crores Thirty Six Lakhs Fifty Thousand only) Convertible warrants on Preferential Basis.

2. Issuance upto 200,00,00,000 (Two Hundred Crores) equity shares of Rs 10/- each through ADR / GDR / FCCB, etc.

3. Increase in Authorised Share capital of the Company from Rs 2000 crores to Rs 3500 crores and altering Clause V of the Memorandum of Association of the Company.

4. Substitution of existing Article 3(a) of the Articles of Association will new Article 3(a) for increase in the Authorised Share capital.

5. Increase in borrowing powers of the Company under Section 293(1)(d) of the Companies Act., 1956.