Prime Securities buy back

Prime Securities Ltd has informed that the Board of Directors of the Company at its meeting held on November 03, 2007, inter alia, has considered and approved the following:

1. The BOD has declared an Interim Dividend of 30% (i.e. Rs 1.50 per equity share of Rs 5/- each) for the financial year 2007-2008.

2. The BOD of the Company has approved a proposal for Buy-back of fully paid Equity
Shares of the Company of Rs 5/- each for a maximum amount of Rs 1,300 lacs, being
23.80% of the existing paid-up equity share capital plus free reserves of the Company, at a price not exceeding Rs 225/- per equity share. The methodology adopted will be
Open Market purchases through BSE / NSE.

The Buy-back of equity shares of the Company shall be subject to approval of the shareholders of the Company.

3. The BOD of the Company has considered and approved a proposal for setting up of an Employee Welfare Trust to acquire and hold equity shares of the Company, for the benefit of employees of the Company and its Subsidiaries. The BOD has authorised the Compensation Committee to finalise the structure of the Employee Welfare Trust in consultation with lawyers.

The proposal for setting up of Employee Welfare Trust shall be in accordance with the applicable rules, regulation and guidelines and subject to approval of the shareholders and other statutory authority, if any.