Deccan Chronicle BUY BACK

Deccan Chronicle Holdings Ltd has informed that the Board of Directors of the Company at its meeting held on October 26, 2007, inter alia, has approved the following:

1. Buy back of equity shares

The proposal for buy back of equity shares of the Company up to a maximum of Rs 250 crores (Rs 2500 Million) and up to a maximum price of Rs 250 per share out of the free reserves of the Company after obtaining the necessary approvals from shareholders and satisfying other statutory requirements.

2. Private placement in 100% subsidiary - Sieger Solutions Ltd

Private placement up to 24% in its currently held 100% subsidiary Sieger Solutions Ltd with a floor enterprise value of Rs 1500 crores (Rs 15000 Million) and ceiling of Rs 1800 crores (Rs 18000 Million).

3. Appointment of Independent Director

Mr. Krishna Premnarayen has been appointed as additional director (Independent director).

CLSA - Deccan Chronicle

CLSA has a BUY on Deccan Chronicle

Target price of Rs 265

Trading at 35% discount to Peers