Jai Balaji : Outcome Of Board Meeting - July 2, 2008

Jai Balaji Industries Ltd has informed that the Board of Directors of the Company at its meeting held on June 30, 2008, inter alia, has transacted the following:

1. Appointed Shri. S C Gupta as an Additional Director of the Company w.e.f. June 30, 2008.

2. Accepted the resignation tendered by Shri. Ashok Kumar Jaiswal from the office of the directors of the Company w.e.f. June 30, 2008.

3. Reconstituted the Audit Committee by appointing Shri. S C Gupta as the Chairman in place of Shri. Ashok Kumar Jaiswal.

4. Reconstituted the Remuneration Committee by appointing Shri. S C Gupta in place of Shri. Ashok Kumar Jaiswal.

Jai Balaji - Outcome Of Board Meeting

Jai Balaji Industries Ltd has informed that the Board of Directors of the Company at its meeting held on February 07, 2008, have given consent to allot 83,59,000 zero coupon compulsorily convertible debentures (CCDs), at a face value of Rs 326.90 each to the following allottees as mentioned below:

1. Name of the Allottee: CVCIGP II Client Rosehill Ltd

Number of Zero Coupon Fully Convertible Debentures: 38,86,734

2. Name of the Allottee: CVCIGP II Employee Rosehill Ltd

Number of Zero Coupon Fully Convertible Debentures: 21,76,813

3. Name of the Allottee: Gautam Nayak and Keshav Bhujle as trustees of:

- CVCIGP II Ajay Relan Trust :

Number of Zero Coupon Fully Convertible Debentures: 45,886

- CVCIGP II Vinayak Shenvi Trust

Number of Zero Coupon Fully Convertible Debentures: 612

- CVCIGP II PR Srinivasan Trust

Number of Zero Coupon Fully Convertible Debentures: 4,589

- CVCIGP II Ajay Tandon trust

Number of Zero Coupon Fully Convertible Debentures: 612

- CVCIGP II Vivek Chhachhi Trust

Number of Zero Coupon Fully Convertible Debentures: 1,530

- CVCIGP II Jayanta Kumar Basu Trust

Number of Zero Coupon Fully Convertible Debentures: 1,224

4. Name of the Allottee: Hudson Equity Holdings Ltd, subsidiary of India Equity Partners Fund I, LLC

Number of Zero Coupon Fully Convertible Debentures: 22,41,000

Further, the Board has given their consent to allot 3,00,000 Warrants, at a price of Rs 326.90 each to Sai Prasad Multitrade Pvt Ltd.