Gupta Synthetics - Outcome of Committee Meeting

Gupta Synthetics Ltd has informed that the Committee of Board at its meeting held on November 29, 2007, has considered and approved the 61000 Convertible Warrants Converted into 61000 Equity Shares. The above 61000 Equity Shares are allotted to Promoters. Pursuant to resolution passed in an Extra Ordinary General Meeting of the Company held on May 16, 2006 accordingly the Company is allotting the 122000 Bonus Shares to the said allottees which was kept in abeyance.