HOTEL LEELAVENTURE LTD. - Resignation of Director

<BR> <BR> <BR> The Board has appointed Mr. Vinay Kapadia as an Independent Director with immediate effect. <BR> <BR> The Board of Directors at their meeting held today has accepted the resignation of the following directors with immediate effect:<BR> <BR> (a) Mr. Vaddarse Prabhakar Shetty- Nominee Director of JM Financial Asset Reconstruction Company Limited<BR> (b) Mr. Anil Ramchand Bhatia - Nominee Director of JM Financial Asset Reconstruction Company Limited<BR> (c) Mr. Navnit Kulwantsingh Batheja - Independent Director<BR> <BR> <BR> Mr. Navnit Kulwantsingh Batheja, who resigned from the Board today, was the Chairman of the Audit Committee and Stakeholders' Relationship Committee and a Member of the Nomination and Remuneration Committee. Mr. Vinay Kapadia, who joined the Board today, was appointed as the Chairman of the Audit Committee and the Stakeholders' Relationship Committee and as a Member of the Nomination and Remuneration Committee.<BR> <BR> The Board meeting commenced at 2.00 P.M. and concluded at 4.00 P.M. <BR> <BR> <BR> <BR>