Maytas Infra – Two Day Board Meeting

Hyderabad April 29th 2009: Board of IL&FS Engineering and Construction Company Limited met in Hyderabad consecutively for 2 days i.e. 28th and 29th April 2009 under the chairmanship of Dr. K. Ramalingam.

The Board carefully analysed the financial position, current order book, cash flow, HR and other issues related with the restructuring of the Company. The Board approved the draft Corporate Debt Restructuring (CDR) package, and is considering appointment of SBI Capital markets for the purpose. The Board has restructured Management of the Company by appointing two Presidents - Mr. C.S.Bansal and Mr. Rajendra Nimje.

Chairman Dr. K. Ramalingam and the Board has reposed full confidence in the Revival Plan and restructuring of Maytas Infra, and it has the full support of the Government of India especially Shri Anurag Goel, Secretary, Ministry of Corporate Affairs for its Revival Plan.

Dr. K. Ramalingam also met the Chief Secretary of Andhra Pradesh, Mr. Ramakanth Reddy and apprised him of the business plans of Maytas Infra Ltd. The Chief Secretary Mr. Reddy also assured full support to the Company for the various projects being executed by the Company.

The Board also addressed the employees of Maytas Infra Ltd., and asked them to work whole heartedly for executing projects on hands and for getting new projects.