VINTAGE

Vintage Cards & Creations Limited has informed the Exchange that in its meeting, held on January 30, 2008, the Board has approved the following: 1) Reduction of Share Capital by nine tenth i.e. to 592941 Equity Shares of Rs.10 each fully paid amounting to Rs.5,929,410; 2) Allotment of 3,995,666 Equity Shares of Rs.10 each to Unsecured Creditors at a premium of Rs.20 per share; 3) Allotment of 2,410,000 Optionally Convertible Debentures of Rs 10 each; The above are pursuant to Court Order dated October 12, 2007 approving the scheme of Arrangement between the Company, its Equity shareholders and

Vintage Cards & Creations Limited has informed the Exchange that: "In the meeting of the Board of Directors of the Company held on January 21, 2008 the Board has approved the following subject to approval by the Members at the ensuing General Meeting: Making a preferential allotment of Warrants under section 81 (1A) of the Companies Act, 1956 and SEBI Guidelines on Preferential basis to the following entities: (1) Venture Business Advisors Pvt Ltd - 50,00,000 warrants (2) Visvavinayak Shares & Services Pvt. Ltd - 10,00,000 warrants (3) Maitri Shares and Securities Pvt Ltd - 10,00,000 warrants;

Vintage Cards & Creations Limited has informed the Exchange that: The Decisions taken at the meeting of the Board of Directors held on April 12, 2007 are listed as below: 1) The Business Plan for the Financial Year 2007-08 has been approved. 2) Mr. Nitin Naik has been appointed as an Additional Director. Further the said Director is appointed as a Whole Time Director of the Company. 3) The Board has approved the amendment to the Scheme of Arrangement and Reconstruction which is already under consideration by the Stock Exchange.

Vintage Cards & Creations Limited has informed the Exchange that the Directors at the Board Meeting held on September 22, 2005 discussed in depth the matter of reconstruction of the Company. The Board of Directors have delegated the responsibility to the Managing Director, Mr. Rajesh Vaishnav to formulate the Scheme, in consultation with Legal Advisors & Corporate Counsels and the same would be approved thereafter by the Board of Directors.