Shah Alloys - Clarification on Dividend

With reference to the earlier announcement regarding Outcome of AGM, Shah Alloys Ltd has informed BSE that at the said Annual General Meeting (AGM) held on September 24, 2007, the members did not approve the decision of payment of dividend for the year "2006-07" as proposed by the Board, in view of the losses suffered by the Company during the current financial year "2007-08".