CRESTANI

Crest Animation Studios Limited has informed the Exchange that the Scheme of Amalgamation of Crest Animation Holdings Inc., USA, Crest Communication Holdings Limited, Mauritius and Crest Interractive Limited, India with Crest Animation Studios Limited has now become effective, upon filing of the order of the Hon'ble Bombay High Court dated April 01, 2011 sanctioning the aforesaid scheme with the Registrar of Companies, Maharashtra, Mumbai and other statutory approvals, compliances in overseas jurisdictions. The Appointed Date of the Scheme is April 01, 2010.

Crest Animation Studios Limited has informed the Exchange that the Hon'ble Bombay High Court vide its order dated April 01, 2011 has sanctioned the Scheme of Amalgamation of Crest Animation Holdings Inc., USA, Crest Communication Holdings Limited, Mauritius and Crest Interactive Limited, India with Crest Animation Studios Limited.

Crest Animation Studios Limited has informed the Exchange vide its letter dated December 09, 2010, regarding "Approval of the Equity Shareholders of the Company to the Scheme of Amalgamation of Crest Animation Holdings Inc., USA, Crest Communication Holdings Limited, Mauritius, Crest Interractive Limited, India with Crest Animation Studios Limited and reduction in Securities Premium Account of the Company as an integral part of the Scheme of Amalgamation".