Rain Commodities - Outcome Of Board Meeting

Rain Commodities Ltd has informed that the Board of Directors of the Company at its meeting held on April 22, 2008, has approved the following:

1. Alteration of Main Objects of Memorandum of Association of the Company to include the objects to carryon the business of manufacture and sale of Calcined Petroleum Coke and generation and supply of Power;

2. Alteration of Objects incidental and ancillary to the attainment of main objects of Memorandum of Association of the Company to include the objects to purchase Ships, Vessels and other mode of Water transportation for captive use;

3. Alteration of other Objects of Memorandum of Association of the Company to include the objects to carryon the business relating to shipping;

4. Alteration of Articles of Association of the Company to include Article to Buyback Shares and securities of the Company;

5. Conduct Postal Ballot to seek approval of shareholders for Amendment of Objects clause of Memorandum of Association; and

6. Convene 33rd Annual General Meeting of Shareholders of the Company on June 25, 2008.

The above decisions of the Board are subject to the approval of shareholders and such other approvals as may be required.