Khandwala Securities - Outcome of EGM

Khandwala Securities Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on December 03, 2007, have deliberated on the following agenda items:

1. Members considered and approved the issue of 18,41,000 convertible warrants to Mr. Paresh J Khandwala and other family members @ Rs 48/- per equity share including premium of Rs 38/- per equity shares as per provisions of the SEBI (DIP) Guideline.

2. Members considered and approved the increase in remuneration of Mr. Paresh J Khandwala, Managing Director, subject to approval of Central Government.