Morarjee Textiles - Outcome of Board Meeting

Morarjee Textiles Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 29, 2009, inter alia, have noted the following matters :

1. Mr. Harshvardhan A. Piramal, Executive Vice Chairman has waived his right to receive remuneration from the Company with effect from October 01, 2009. Mr. Piramal would continue to fulfill his responsibilities as Executive Vice Chairman, without drawing any remuneration with effect from October 01, 2009.