Satra Properties Bonus Issue

Satra Properties India Ltd has informed that the Board of Directors of the Company at its meeting held on November 12, 2007, inter alia, transacted the following business:

1. The Board of Directors decided to issue Bonus Shares in the ratio of 2:1 (i.e. 2 Bonus Equity Shares shall be issued for every 1 existing Equity Shares, - 200% Bonus), subject to the approval of Members and concerned authorities.

2. The Board of Directors decided to diversify the business of the Company in Retails, Merchandising and Generation of Power and for this purpose to amend its Main objects, subject to the approval of the Members and concerned authorities.

3. The Board of Directors decided to obtain the approval of members for passing necessary resolution and other applicable provisions of the Companies Act, 1956 or any other applicable law in force, for raising resources for the Company by way of placements through Qualified Institutional Placements (QIP) or Preferential Allotments to Mutual Funds, Banks, Financial Institutions, Foreign Institutional Investors and other investors including promoters etc. or Follow on Public Issue or Foreign issue of Equity Shares, Convertible Debentures or issue of ADR's / GDR's or any other instrument, or any combination of the above and subject to such other approvals as may be required.

4. The Board of Directors decided to increase the Authorized Share Capital of the Company from Rs 40 Crores to Rs 50 Crores, comprising of Rs 42 Crores Equity Share Capital (Face Value of Rs 2/- each) and Rs 8 Crores Preference Share Capital (Face Value of Rs 10/- each).

5. The Board approved the Calendar of Events for the Postal Ballot for obtaining necessary consent of the Members for the aforesaid purposes.