BOARD MEETING ON TUESDAY, MAY 20, 2008 AT MUMBAI TO CONSIDER AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED ON MARCH 31, 2008

A Meeting of the Board of Directors of Bharat Forge Limited is convened on Tuesday, May 20, 2008, inter alia, to consider audited Balance Sheet and Profit and Loss Account for the year ended on March 31, 2008. After consideration of accounts, the Board may consider recommendation of Dividend.

At the above said Meeting the Board will also review its earlier decision for issue of Convertible Warrants to the Promoters Group of up to Rs.300crores (Ref. decision at Board Meeting held on 27th February, 2008) and will also consider alternate proposals for fund raising.