MICRO

Micro Inks Limited has informed the Exchange that : 1) The Company has also redeemed 100,000 65% Cumulative Redeemable Preference Shares of Rs.100/- each at a premium of Rs.900/- per share aggregating to Rs.100 Million on May 24, 2005 by exercising call/put option as per the terms of the Issue. 2) Out of 250,000 65% Cumulative Redeemable Preference Shares of Rs.100/- each, the Company has redeemed 150,000 65% Cumulative Redeemable Preference Shares of Rs.100/- each at a premium of Rs.900/- per share aggregating to Rs.150 Million on May 24, 2005 by exercising call/put option as the terms of the

Micro Inks Limited has informed the Exchange that Mr. Vinay Pandya, Director (Finance) of the Company has been co-opted as an Additional Director (Non Executive Director) of the Company effective April 24, 2005 at the Board Meeting held on April 23, 2005.Mr. R. V. Chari will be taking over as Director - Finance (Non-Board) in place of Mr. Pandya. The Company has further informed that the Company has received intimation from Mr. Vinay Pandya, who has been co-opted as an Additional Director on the Board of the Company at its Board Meeting held on April 23, 2005 that he together with his dependen

Micro Inks Limited has informed the Exchange that the company has declared book closure from May 21, 2005 to May 23, 2005, for 1) ascertaining eligibility of the members for entitlement of final dividend of Rs.6 per share on 2,48,71,941 equity shares (including underlying equity shares under GDRs)*. 2) ascertaining eligibility of the members for receiving notice for the ensuing AGM. * Members at the close of the business hours of May 20, 2005 will be eligible for the dividend, if approved, by the Members at ensuing AGM.

Micro Inks Limited has informed the Exchange that the BODs of the Company at its meeting held on April 23,2005 has recommended dividend of 60% on the equity capital aggregating to Rs.170.2 million including corporate dividend tax of Rs.20.9 million, for the year ended March 31,2005.

Micro Inks Limited has informed the Exchange that the Board of Directors of the Company, by circular resolution dated March 18,2005, have resolved to vary terms and conditions of 6.5%, 40,00,000 Cumulative Redeemable Preference Shares of Rs.100 each, which were issued at par and there by the period of redemption of the said shares is extended by 36 months (with call and put option at any time at the end of the three months from March 20,2005) from the original date of redemption i.e. March 20,2005. Other terms and conditions of the issue have remained unchanged.

Micro Inks Limited has informed the Exchange that the CRISIL Limited has assigned a "P1+" (P One Plus) (which indicates that the degree of safety with regard to timely payment of interest and principal on the instrument is very strong) rating to the Company's Commercial Paper Programme for an amount upto Rs.250 million vide its letter dated January 27,2005.

Micro Inks Limited has informed the Exchange of the following: 1) Professor Pradip N Khandwalla has been co-opted as an Additional Director of the company and as a member of the Audit Committee of the Board at the Board Meeting held on January 13, 2005. 2) Micro Inks Corporation, USA, a wholly owned subsidiary of the Company, has entered into a fresh agreement renewing its long term ink purchase agreement with M/s RR Donnelley & Sons Company, USA with additional volumes including new locations and divisions in USA. However, the fresh contract is at lower prices than earlier contract due to hig

Micro Inks Limited has informed the Exchange that the Company has received the disclosure from Mr. Prashant Desai, Director that his relatives have sold 4900 (Four Thousand Nine hundred only) equity shares of Micro Inks Limited in the Open Market on December 23,2004 and December 24,2004.

Micro Inks Limited has informed the Exchange that the relative of Mr. Prashant Desai, Director of the Company has sold 100 (one hundred only) equity shares of Micro Inks Limited in the Open Market.

Micro Inks Limited has informed the Exchange that Bilakhia Holdings Pvt. Ltd.,one of the promoters of the Company, have acquired 45130 equity shares sold by the relatives of Directors/Officers. The details of the sale of shares by the relatives of Directors/Officers along with the number of shares sold by them are as follows:1)Prashant Desai, Director-20,000 shares.2)K.K.Unni, Director-16,000 shares.3)Hasmukh Shah, Director-4500 shares.4)Shivram Angne, Whole-Time Director-2500 shares.5)Hitesh Parikh, Company Secretary & Compliance Officer-2000 shares.

Micro Inks Limited has informed the Exchange that at the meeting of the Capital Issue Committee of the Board of Directors of the Company held on November 05, 2004, the Committee has approved the issue of 3013341 Global Depository Receipts ("GDR") at an offer price of US$13.2743 (i.e. Rs.600/-) representing 3013341 Equity Shares of the Company.

Micro Inks Limited has informed the Exchange that the Company's GDR issue up to USD 40 Million, which was approved by the Members on May 27, 2004 and which was opened for subscription earlier on November 05, 2004, has been closed w.e.f. November 05, 2004.

Micro Inks Limited has informed the Exchange that the company's GDR issue up to USD 40 million, which was approved by the members on May 27, 2004 has been opened for subscription on November 05, 2004.

Micro Inks Limited has informed the Exchange that the Company has revised downward the Coupon Rate of all the Cumulative Redeemable Preference Shares effective October 01, 2004 as detailed below with the consent of the Preference Shareholder : 1) 250000 Cumulative Redeemable Preference Shares - Old Coupon Rate - 70%, Revised Coupon Rate - 65%, Effective Revised Coupon Rate - 6.5%; 2) 100000 Cumulative Redeemable Preference Shares - Old Coupon Rate - 80%, Revised Coupon Rate - 65%, Effective Revised Coupon Rate - 6.5%; 3) 4000000 Cumulative Redeemable Preference Shares - Old Coupon Rate - 9%, R

Micro Inks Limited has informed the Exchange that Mr. Y H Malegam has resigned, vide his letter dated October 06, 2004, from the Board of Directors of the Company.

Micro Inks Limited has informed the Exchange that the Credit Analysis & Research Ltd. (CARE) has upgraded the rating to 'CARE AA' [Double A] for Non Convertible Debentures upto Rs.1000 Million and has retained PR1+ (PR One Plus) rating assigned to the Company's Short Term Debt (STD) Programme [Including Commercial Paper (CP)] for an amount upto Rs.650 million for a maturity upto three months.

Micro Inks Limited has informed the Exchange that at its meeting held on September 30, 2004, the Capital Issue Committee of the BoD's of the company has approved the international offering by way of Global Depository Shares. The exact price, number of shares and the total issue amount will be finalized closer to the issue.

Micro Inks Limited has informed the Exchange that the meeting of the Capital Issue Committee of the BoD's of the Company will be held on September 30, 2004 to consider and finalise the mode and modalities of international offering in terms of the resolution of the Members passed at the EGM held on May 27, 2004 for an amount not exceeding US$ 40 Million.

News Verification : The press had reports on September 10, 2003 that Henkel KgaA has entered into a tie-up with Hindustan Inks and Resins Limited for adhesives business. The Exchange, in order to verify the accuracy or otherwise of the information reported in the press and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company. Hindustan Inks and Resins Limited has vide its letter inter-alia stated, "We have to clarify that the Company has executed only a non-binding Memorandum of Understanding (MoU) on June 20, 2003, sett