Vikas WSP - Board Meeting on Dec 14, 2007

Vikas WSP Ltd has informed that a meeting of the Board of Directors of the Company will be held on December 14, 2007, inter alia, to consider to raise funds by way of preferential allotments of equity shares as under:

1. To consider to change the name of proposed allottee of 24,75,000 (Twenty Four Lac Seventy Five Thousand) equity shares considered in the Board meeting dated October 24, 2007 within promoters at an aggregate price of Rs 82.50 per share of Rs 1/- face value.

2. To consider to allot additional 35,25,000 (Thirty five Lac Twenty Five Thousand) equity shares to promoters at an aggregate price of Rs 82.50 per share of Rs 1/- face value. This way, the total number of equity shares (Item no 1 & 2) to be alloted to promoters would be 60,00,000 (Sixty Lac).

3. Toconsider to allot 2,03,00,000 (Two Crore Three Lacs) equity shares to Indian non-promoters at an aggregate price of Rs 82.50 per share of Rs 1/ face value.

4. To consider to allot 14,50,000 (Fourteen Lac Fifty Thousand) equity shares to Employees under the ESOP / ESOS.

5. The funds so raised will be used to part finance the ongoing planned projects of the Company as under:

(A) BARODA PROJECT - For the manufacture of HPG & CMHPG guar derivatives for use in ENERGY SECTOR i.e. oil & gas wells fracturing.

(B) BIKANER PROJECT - For the manufacture of Organic Guar Polymers & other products for use in organic food applications.

(C) SRIGANGANAGAR (AGRO FOOD PARK) - New unit for the manufacture of Guar Gum Polymers for other industrial applications like paper making, etc.