Intellvisions Software - Outcome of Board Meeting

Intellvisions Software Ltd has informed that the Board of Directors of the Company at its meeting held on December 17, 2007, inter alia, has concluded the following:

1. Considered the Valuation Reports in respect of the Amalgamation of M/s. Rosmerta Technologies Ltd, one of Indias largest E - Governance Company.

2. Approved the execution of Memorandum of Understanding between the Company and M/s. Rosmerta Technologies Ltd and its Shareholders.

3. Approved the issue of 2.70 crores shares of Rs 10/- each in the Company to the Shareholders of M/s. Rosmerta Technologies Ltd, as consideration for merger of Rosmerta with the Company subject to approval of the proposed scheme by the relevant authorities includes Stock Exchange, the Shareholders at their General Meeting and the Court of Judicative at Mumbai and such approval as are / may be required under the Companies Act, 1956, Listing Agreement and the relevant status.