Premier - Outcome of Board Meeting

Premier Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 30, 2009, inter alia, has considered and approved the following :

1. Raising of funds upto Rs. 200 crores (Rupees 2,000 million) through the issue of securities / foreign currency convertible bands / qualified institutions' placement / convertible bonds and / or other securities convertible into equity shares, in the domestic / international markets, subject to necessary approvals.

2. Seeking shareholders' consent / confirmation under Section 293(1)(a) of the Companies Act, 1956 and other provisions of the Companies Act, 1956, through Postal Ballot.

Further, the Board has also approved convening of an Extra-ordinary General Meeting of the shareholders on November 27, 2009, for obtaining the approval of the shareholders for funds raising.