Karuturi approves stock split

Karuturi Networks Ltd has informed that the Board of Directors of the Company at its meeting held on January 30, 2008, inter alia, has transacted the following business:

1. It is proposed to split the face value of its Equity Shares from the existing Rs 10/- per share to Rs 1/- Share subject to the approval of the share holders.

2. It is proposed the enhance Board's borrowing powers from the existing Rs 500 crores to Rs 1500 crores keeping in view of its capex plans in the next financial year after obtaining the consent of shareholders.

3. It is decided to float 3 new subsidiaries for undertaking its diverse business interests as under:

(a) Karuturi Floritech P Ltd - for its floriculture division
(b) Karuturi Foods P Ltd - for its food processing division
(c) Karuturi Flower Express Pvt Ltd - for its retail division.

4. It is proposed to drop the word 'Networks' from its name i.e. Karutri Networks Ltd and to retain Karutri Ltd or such other name as may be made available by the Central Government.

5. Mr. Siddhartha K Mukherji and Mr. Satish Caroli are appointed as Directors of the Company.