Jain Irrigation Systems

Jain Irrigation Systems Ltd has informed that the Board of Directors of the Company at its meeting held on September 25, 2007, has decided to convene an Extra Ordinary General Meeting of the Company on October 19, 2007, for seeking Shareholders approval on the following issues:

a) To offer and allot upto 86,00,000 Equity Warrants at a minimum price as per SEBI(DIP) Guidelines Chapter XIII but not more than Rs 485 each, aggregating upto Rs 417.1 Crores (at maximum price of Rs 485 each) on the preferential basis to select persons (Corporate entities) of Promoters’ Group named in the resolution. The Warrants will entitle the holder thereof to apply for and obtain one Equity Share of Rs 10/- each for cash at premium not exceeding Rs 475 per Share. The option can be exercised by holders within a period of 18 months from date of allotment. The other terms and conditions of the Warrants shall be in compliance with SEBI (DIP) Guidelines 2000 (Chapter XIII) and the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 1997, applicable.

The proposed allottes are:

1. Cosmos Investment & Trading Pvt Ltd

2. Jalgaon Investments Pvt Ltd

3. Jain Investment & Finance B.V.