SHRENUJ

Shrenuj & Co Ltd has informed the Exchange that the Board Meeting held on April 22, 2005, the Board of Directors have given their consent to invest USD 1.2 million in a newly established company in USA, for garnering larger share of the expanding diamond and jewellery market in the USA. The Board of Directors have also given the consent to invest Mauritius Rupees 59.83 million in a newly established company in Mauritius, which will act as a holding company for investment in other global markets. The company will be soon approaching their bankers to remit these amounts.

Shrenuj & Co Ltd has informed the Exchange that the BODs at their meeting held on February 17,2005, have decided to invest in shares of Shrenuj U.K. Limited, a Subsidiary Company registered in U.K. upto 2.5 Million Euro for business development and exploring of Overseas Market. The Board has also decided to form Overseas Subsidiaries in U.S.A., Mauritius and Dubai for the same.