SB&T International - Outcome of Board Meeting

SB&T International Ltd has informed that the Board of Directors of the Company at its meeting held on December 17, 2007, inter alia, has approved the following:

1. Decided to cancel the Amalgamation of Mimansa Jewellery Pvt Ltd with the Company (approve by the Board of Directors at its meeting held on April 04, 2007) & decided to takeover the business & brand of Mimansa Jewellery Pvt Ltd and to issue 5,00,000 Equity Shares to the shareholders of Mimansa Jewellery Pvt Ltd in proportion of shares held by them.

2. Issue of 18,00,000 equity share warrants on Preferential Basis to investors at a price of Rs 40/-.

3. Decided to convene an Extra Ordinary General Meeting of the shareholders of the Company to be held on January 09, 2008, for obtaining the shareholders approval for the preferential issue of equity shares to the shareholders of Mimansa Jewellery Pvt Ltd & to the aforesaid takeover & issue of share warrants.