Patel Integrated - Outcome of Board Meeting

Patel Integrated Logistics Ltd has informed that the Board of Directors of the Company at its meeting held on December 19, 2007, inter alia, has approved the following:

1. Preferential offer of 18.00 lakh Equity Shares and 8.00 lakh Equity Warrants to Promoter / Non Promoters (individuals, HUF, Bodies Corporate and FII of Rs 10/- each at a price of Rs 74/- per equity share and per equity warrant which includes premium of Rs 64/- per equity share, to be utilized for meeting capital expenditure including acquisition of Express Super Hubs and other corporate initiatives envisaged in the expansion plans of the Company.

2. Private Placement of Preference Shares and / or Equity Shares and / or Fully or Partly Convertible Debentures / Convertible Preference Shares / such other Security / Financial instrument which may be convertible at a later date into Equity Shares of the Company to Qualified Institutional Buyers (QIBs), as may he deemed necessary in future;

3. Increase in the Authorised Capital of the Company FROM the existing Rs 15.00 crores comprising of 1.50 crore Equity Shares of Rs 10/- each TO Rs 20.00 crores comprising of 2.00 crore Equity Shares of Rs 10/- each;

4. Consequential changes in the Articles and Memorandum of Association of the Company to give effect to above initiatives:

5. Delisting of Companys shares from all or any of the Stock Exchanges mentioned below, as may be deemed fit:

(i) Ahmedabad Stock Exchange Ltd.

(ii) The Delhi Stock Exchange Association Ltd.

(iii) The Madras Stock Exchange Ltd.

(iv) The Calcutta Stock Exchange Association Ltd.

6. An enabling Authority to the Board of Directors under Companies Act, 1956, to borrow, from time to time, funds, which with existing funds borrowed may exceed the paid-up capital and free reserves of the Company, but not exceeding Rs 100.00 crores