Surana Corporation - Outcome of Board Meeting

Surana Corporation Ltd has informed that the Board of Directors of the Company at its meeting held on December 13, 2007, inter alia, has passed the following resolutions:

1. To issue 25,00,000 (Twenty Five Lacs) Equity Shares of Rs 10 each at a premium of Rs 190 each (total amount Rs 200 per Equity Share) aggregating to Rs 50 crores (Rupees Fifty crores) on preferential basis to a Select Group of Persons (not being Promoters, or belonging to the Promoter Group or their relatives, business associates or friends or nominees.

i. Name of the Subscriber: Maxwin International Pte Ltd (OCB)

No of Shares : 5,00,000

ii. Name of the Subscriber: Fortune Top International Pte Ltd (OCB)

No of Shares : 5,00,000

iii. Name of the Subscriber: Boul Fund International Pte Ltd (OCB)

No of Shares : 5,00,000

iv. Name of the Subscriber: B K Plant & Mercury Pvt Ltd (Body Corp)

No of Shares : 5,00,000

v. Name of the Subscriber: C & S Tools Pvt Ltd (Body Corp)

No of Shares : 5,00,000.