Jai Corp EGM Outcome

Jai Corp Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on November 17, 2007, inter alia, have approved the following:

1. Amendments to the 'Capital clause' of the Memorandum and Articles of Association reclassifying 1% 15,000 non-cumulative, non-participating redeemable preference shares of face value Rs 100/- each to 15,00,000 non-cumulative, non-participating redeemable preference shares of face value Re 1/- each; 1,35,000 unclassified shares of face value Rs 100/- each into 1,35,00,000 non-cumulative, non-participating redeemable preference shares of face value Re 1/- each; and changed the face value of the balance unclassified shares; 1,50,000 shares of face value Rs 100/- each to 1,50,00,000 shares of face value Re 1/- each.

2. Issue of 59,10,610 fully paid-up equity shares of face value Re 1/- each at a premium of Rs 1,034/- each on a preferential / private placement basis under Chapter XIII of SEBI (Disclosure & Investor Protection) Guidelines 2000.

3. Issue of 1,50,00,000 fully paid—up Preference Shares of face value of Re 1/- each at a premium of Rs 999/— each on preferential basis to promoter group.