Godrej Industries - Notice of Postal Ballot

Godrej Industries Ltd has informed that the Board of Directors of the Company at its meeting held on October 26, 2007, has approved the following businesses for which approval of shareholders by Postal Ballot is sought:

1. To invest further in securities of Godrej Consumer Products Ltd by subscription / purchase or otherwise and / or place intercorporate deposits with and / or make loans or any other form of debt to and / or investment in Godrej Consumer Products Ltd and / or give guarantees in connection with loan(s) given by any other person to Godrej Consumer Products Ltd, in addition to the existing investments, upto a sum of Rs 100 Crore (Rupees Hundred Crore Only), notwithstanding that the aggregate of the loans and Investments so far made in or to be made in and the guarantees so far given or to be given to all bodies corporate, exceeds the limits laid down by the Act, subject to necessary provisions & approvals.

2. Revision in terms Remuneration of Mr. N B Godrej, Managing Director, on terms & conditions.

The Board has appointed Mr. B M Shemlani, Chartered accountant and failing him Mr. Kalidas Vanjpe, Practising Company Secretary as Scrutinizers for conducting the postal ballot process in a fair & transparent manner.

The Postal Ballot form duly completed should reach the scrutinizers before the close of working hours on December 12, 2007. The Scrutinizer will submit his report to the Board of Directors of the Company after completion of the Scrutiny and the results of the postal ballot will be announced by the Chairman on December 14, 2007.