Ashiana Housing announces Bonus

Ashiana Housing Ltd has informed that the Board of Directors of the Company at its meeting held on October 29, 2007, inter alia, has recommended an issue of Bonus Shares to the existing shareholders of the Company by capitalization of its reserves in the ratio of 5:2 (Five new shares of Ashiana Housing Ltd for every 2 shares held of Ashiana Housing Ltd) as on the record date which will be announced later.