2nd-Apr-2005 11:55Source: BSE

Opal Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 01, 2005, inter alia, has taken the following decisions: 1. Approved the proposal of the preferential allotment of 5000000 equity shares of Rs 10/- each to various persons at a price of Rs 10 per share. The above price has been based on the certificate of the Statutory Auditors for pricing of shares as per SEBI guidelines. The relevant date for this purpose is March 31, 2005. 2. Increase the authorized share capital of the Company from the existing 12000000 equity shares of Rs 10 each to 16000000 equity share of Rs 10 each. 3. Convene the Extra Ordinary General Meeting of the shareholders on April 30, 2005 to seek their consent and to have enabling powers to give effect to the above said resolution.