HBL Power - Outcome of Board Meeting

HBL Power Systems Ltd has informed that the Board of Directors of the Company at its meeting held on December 08, 2007, has decided to raise funds through issue of Equity Shares & Warrants on preferential basis is as under:

1. 11,80,445 equity shares of Rs 410/- per share inclusive of Rs 400/- per share as premium to the Foreign Corporate Bodies, Private Unregistered Trusts and the promoters.

2. 15,00,000 share warrants of Rs 425/- of each, which is to be converted into equal number of equity shares with a face value Rs 10/- each with premium of Rs 415/- per share with in 18 months from the date of allotment of warrants to the Foreign Corporate Bodies and Private Unregistered Trusts; and

3. To convene the Extra-ordinary General Meeting on January 04, 2008 for the members approval for item no 1 & 2 mentioned above.