Steelcast Board Approved The Issue Of 360,000 Equity Share - July 13, 2009

Steelcast Limited has informed that the Board of Directors of the Company at its meeting held on July 12, 2009, has approved the issue of 360,000 equity warrants convertible into 360,000 equity shares of face value of Rs 10/- at a price of Rs 66.50 per equity share (i.e. a premium of Rs 56.50 per equity share) to Promoters on preferential allotment basis, being 9.09% of the post issue equity share capital of the Company subject to the approval of the members of the Company in General Meeting by way of special resolution as required to be passed under the provisions of the Companies Act, 1956 as well as such other provisions of SEBI (Disclosure and Investor Protection) Guidelines and such other approvals, consent, sanction etc. as may be required for this purpose.

The members of the Company will consider this matter at their next Annual General Meeting to be held on August 08, 2009.