Sterling Biotech to raise FCCBs

Sterling Biotech Ltd has informed that the Board of Directors of the Company at its meeting held on February 07, 2008, inter alia, has taken the following decisions:

1. Subject to approval of the members, the Board approved the re-appointment of Shri. Nitin J Sandesara as Managing Director of the Company.

2. Subject to approval of the members, the Board approved the Sponsored ADR, GDR, etc on underlying Indian Securities of the Company in the International Market to the extent of USD 250 Million.

3. Subject to approval of the members, the Board approved the issue of securities in the international market through fresh issue of ADR, GDR, FCCB, etc. to the extent of USD 250 Million.

4. The Extra Ordinary General Meeting of the members of the Company will be held on March 05, 2008, to pass relevant resolutions as aforesaid.