Mascon Global

Mascon Global Ltd has informed that the members at the 16th Annual General Meeting (AGM) of the Company held on September 22, 2007, inter alia, have accorded to the following:

1. Adoption of Audited Annual Accounts for the financial year ended March 31, 2007.

2. Re-appointment of retiring Directors, Mr. R. Gowri Shanker, Dr. Nandu Thondavadi & Mr. Shiv Kumar Jatia.

3. Re-appointment of Statutory Auditors — G. Balu Associates, Chartered Accountants, Chennai.

4. Approval for Investment limit u/s 372A(1) of the Companies Act, 1956 for a sum not exceeding Rs 9000 Million.

5. Approval for increasing the Authorized capital of the Company from Rs 360,00,00,000 to Rs 450,00,00,000.

6. Approval for Employees Stock Option Scheme (ESOS) for the employees of the Company, its Subsidiary Companies and to the Non-Executive Directors of the Company.

7. Approval for increasing the remuneration of Mr. Chandra, Executive Chairman & CEO.

8. Approval for Issue of Securities by way of GDR / ADR / FCCB to the extent of US $ 150 Million. (The said resolution has already been approved by the members in the AGM held on September 28, 2006. As a good corporate practice, it is recommended that the entire resolution covering even the public issue of securities of any nature as described in the resolution be approved by the members in their meeting.)