IOL Broadband changes name to IOL Netcom

IOL Broadband Ltd has informed that the Board of Directors of the Company through circular resolution passed on December 01, 2007 has approved the following:

1. To make a preferential issue of 20,00,000 warrants to specified Investors (Non-promoters), carrying an entitlement to apply for the equivalent number of equity shares of Rs 10/- each at a price of Rs 576/- (including premium of Rs 566/- per share), in accordance with chapter XIII of SEBI (Disclosure & Investor Protection) Guidelines, 2000.

2. Alteration of the Articles of Association of the Company.

3. Subject to the requisite approval, to Change the name of the Company from "IOL Broadband Ltd" to "IOL Netcom Ltd".