Scana Color India Limited has informed BSE that its board of directors at its meeting held on November 5th 2007 has taken the following decisions subject to the approval of the shareholders

1. Increase in authorized share capital from INR 3.5 crores to INR 33.25 crores.

2. Change in name of the company from Scana Color (India) Limited to Karma Ispat Limited

3. To diversify into the business of steel, chemicals, computer spare parts and hardware business and for alteration of the main objects of the company to include the above businesses.

4. Raising of capital up to INMR 45 crores for the expansion plan of the company through preferential issue of 30,000,000 equity shares of INR 10 each at a premium of INR 5 each.

The date of the Extra Ordinary General meeting of the shareholders of the Company to consider the above items has been fixed for December 10th 2007.