Sumeet Industries capital reduction

Sumeet Industries Ltd has informed that the members at the Extra Ordinary General Meeting (EGM) of the Company held on November 20, 2007 inter alia, have also given consent for reduction of capital of the Company by Rs 75,00,000/- (i.e. Rs 25,00,000/- Share Capital and Rs 50 lacs Share Premium) by way of cancellation of preferential allotment of 2,50,000 equity shares of Rs 10/- each issued at a premium of Rs 20/- per share to M/s. Vishvas Infrastructure Ltd, made on April 13, 2007.