Great Offshore - Outcome of Board Meeting

Great Offshore Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 31, 2009, inter alia, has made an allotment of 91,017 Equity Shares of Rs. 10/- each of the Company to Deutsche Bank AG, London, the holder of 7.25% Unsecured Foreign Currency Convertible Bonds due 2012 (FCCBs), on the exercise by the said holder its conversion right in respect of FCCBs aggregating to US$ 2,000,000 (United States Dollar Two Million) at the pre determined conversion price of Rs. 875/- per share in accordance with terms and conditions of the Bonds.