Indian Metals & Ferro Alloys Ltd has announced that a meeting of the Board of Directors of the Company will be held on May 11th 2009, inter alia, to approve and take on record the audited financial results of the Company for the quarter and year ended March 31st 2009 and the following

1. To consider recommendation of dividend on the equity shares of the Company for the financial year ended March 31, 2009.

2. To approve the acquisition of Ferro Alloys Division of Utkal Manufacturing & Services Ltd in tax and regulatory efficient manner.