Arex Industries - Outcome of Board Meeting

Arex Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 30, 2009, inter alia, has considered the followings:

1. Approved the resolutions to be passed through Postal Ballots for the following items:

a. Alteration of the main objects and to commence business of other garment accessories and wind mill.

b. Increasing the borrowing limits and to mortgage and/or create charge on any one or more
properties of the Company.

2. For Postal Ballot items:

a. Approved the Postal Ballot Notice with Explanatory Statement and Postal Ballot Form.

b. Appointment of Shri. Narendra B. Shah, Practicing Company Secretary as Scrutinizer.

c. Authorised Shri. Dinesh A. Bilgi, Chairman and Mg. Director and to be responsible for the entire post ballot process.

d. Approved the calendar of events.

3. Appointed Shri. Pragnesh K. Shah as Executive Director of the Company for five years from November 01, 2009.