Kesar Petroproducts - Outcome of Board Meeting

Kesar Petroproducts Ltd has informed that the Board of Directors of the Company at its meeting held on July 31, 2008, inter alia, has taken the following decisions:

1. Since the Company is a sick Company under the Sick Industrial Companies (Special Provisions) Act, 1985, the Company / Board of Directors is not authorized to consider any question of Dividend - hence the Dividend in respect of the Year ended March 31, 2007 may be deemed to have been passed over.

2. Since the Results are unaudited and the Companys Accounts would be revisited by a new Auditor after his appointment at the AGM (the existing Auditors viz. M/s. Contractor, Nayak & Kishnadwala, Chartered Accountants, have resigned with effect from June 02, 2008).