Everonn Systems - Outcome Of Board Meeting - June 18, 2008

Everonn Systems India Ltd has informed that the Board of Directors of the Company at its meeting held on June 17, 2008 has transacted the following:

1. Approved allotment of equity shares on preferential basis to the following persons

i. New Vernon India Ltd : 6,67,015 No. of Equity Shares to be issued

ii. Deutsche Securities Mauritius Ltd : 2,70,047 No. of Equity Shares to be issued

iii. The India Fund, Inc : 3,32,157 No. of Equity Shares to be issued

2. Approved allotment of convertible equity warrants on preferential basis to the following persons

i. New Vernon India Ltd : 1,90,576 No. of Equity Warrants to be issued

ii. Deutsche Securities Mauritius Ltd : 77,156 No. of Equity Warrants to be issued

iii. The India Fund, Inc : 94,902 No. of Equity Warrants to be issued.