Infotech Enterprises - EGM on Jun 23, 2007

Infotech Enterprises Ltd has informed that the Board of Directors has approved the issue of following securities on preferential basis to M/s. Carrier International Mauritius Ltd and M/s. GA Global Investment Ltd, Cyprus or any of its affiliate(s) / group entity(ies), subject to the approval by the Shareholders and other concerned authorities:1. Issue of 38,11,392 equity shares of Rs 5/- each at a price of Rs 360/- per share as an underlying equity shares for the issue of ADRs.2. Issue of 27,24,000 Compulsorily Convertible Preference Shares of Rs 360/- each convertible into equal number of equity shares of Rs 5/- each at a premium of Rs 355/- per share.3. Issue of 17,72,305 equity shares of Rs 5/- each at a price of Rs 360/- per share.