Rane Engine Valves Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 20, 2007, has taken the following decisions: 1. The manufacturing undertakings of the Company would be demerged into a new manufacturing Company with appointed date as April 01, 2007. The equity shares of the new manufacturing Company will be listed on the Stock Exchanges. 2. The residual non-manufacturing business of the Company would be merged with Rane Holdings Ltd (RHL). 3. In consideration of the above, for every 100 shares held in the Company, the shareholders would be allotted shares as under: a. 100 shares in the new manufacturing Company and b. 56 shares in Rane Holdings Ltd. 4. The above restructuring would be effected through a composite scheme of arrangement to be filed before the Hon. High Court of Madras. SUB. :- Scheme of Arrangement of Rane Engine Valves Ltd. (Scrip Code 532490) Trading members of the Exchange are hereby informed that, Rane Engine Valves Ltd. has fixed the Record Date for the purpose of Scheme of demerger, merger and amalgamation of Rane Engine Valves Ltd. with Rane Holdings Ltd. Trading members are advised not to deal in the equity shares of Rane Engine Valves Ltd. with effect from the under mentioned date. COMPANY NAME CODE Rane Engine Valves Ltd. 532490 RECORD DATE 22/02/2008 PURPOSE The Scheme of Arrangement: - 1. Demerger and vesting of the Manufacturing undertaking of the Company into Techcons Ltd. Upon this scheme becoming operative and upon vesting of the manufacturing undertaking of Rane Engine Value Ltd. into Techcons Ltd., Techcons shall issue and allot to the equity shareholders of Rane Engine Valves Ltd. in the ratio of 1 (ONE) equity share of Rs.10/- each fully paid-up of Techcons Ltd. for every 1 (ONE) equity share of Rs.10/- each fully paid up held in Rane Engine Valves Ltd. 2. Amalgamation of the company with Rane Holdings Ltd.: - Determining entitlement of shareholders of Rane Engine Valves Ltd. pursuant to the amalgamation of Rane Engine Valves Ltd. with Rane Holdings Ltd. Rane Holdings Ltd. will issue and allot to the shareholders of Rane Engine Valves Ltd. in the ratio of 56 (FIFTY SIX) equity shares of Rane Holdings Ltd. for every 100 (ONE HUNDRED) Equity Shares held in Rane Engine Valves Ltd.15/02/2008 DR-225/2007-2008 Trading Members of the Exchange are requested to take note of it. (As Per BSE Notice Dated on 11.02.2008) Trading members of the Exchange are hereby informed that the under mentioned new securities of Rane Holdings Limited (Scrip Code: 505800, ISIN No. INE384A01010) are listed and permitted for trading on the Exchange with effect from Thursday, April 24, 2008. Securities 44,96,493 * Equity Shares of Rs.10/- each issued to the shareholders of erstwhile Rane Engine Valves Limited (REVL) and Rane Brake Lining Limited (RBLL) pursuant to the scheme of Amalgamation of the Company. Dist. Nos. 9781317 to 14277809 * These shares are ranking pari-passu with the existing equity shares of the company. 2. The brief particulars of the Scheme of Amalgamation are as mentioned below: a) The Scheme of Amalgamation of the company was approved by the Hon'ble High Court of Judicature at Madras vide its Order dated December 20, 2007. b) Appointed Date: April 01, 2007. c) Effective Date: February 06, 2008. d) Date of Allotment: February 28, 2008. e) Exchange Ratio: i) 56 equity shares of Rs.10/- each in RHL for every 100 equity shares of Rs10/- each of REVL. ii) 75 equity shares of Rs.10/- each in RHL for every 100 equity shares of Rs.10/- each of RBLL. 3. The company's financial year ends on 31st March. (As Per BSE Notice Dated on 23.04.2008)