STL:BSE:2011-12

Monday, 26^th March,2012

The Secretary,

BSE Limited

25^th Floor

P.J.Towers

Dalal Street

Mumbai 400 001.

Dear Sir,

Sub: Outcome of the Board Meeting held on 26.03.2012

Ref: Scrip Code No.513418

The Board at its meeting held today have:

Approved extension of lease of Plant and Machinery of the Company to Smiths & Founders ( India ) Limited for a further period of 3 years subject to Shareholders approval OR Until sanction of Rehabilitation Scheme, which envisages inter alia amalgamation of Smiths & Founders ( India ) Limited with the Company, by the Hon’ble BIFR, whichever is earlier.

Thank you,

Yours truly,

For SHIMOGA TECHNOLOGIES LIMITED

Compliance Officer