Bank of Baroda: Outcome of Board Meeting

Bank of Baroda has informed BSE that the Board of Directors of the Bank at its meeting held on March 05, 2011, inter alia, decided to:

1. Initiate necessary steps to raise capital by creating, offering, issuing and allotting such number of equity shares of face value of Rs. 10/- each for cash at a premium of Rs. 892.14 as determined by the Board in accordance with Regulation 78 (1) of SEBI ICDR Regulations and aggregating upto Rs. 3280,90,49,171.36 on preferential basis to Government of India and to complete the formalities by March 31, 2011, in terms of the communication from Government of India, Ministry of Finance Department of Financial Services vide letter dated February 28, 2011 conveying its decision to infuse capital in those Public Sector Banks where Government of India's holding is less than 58%, by way of preferential allotment of Equity in favour of Government of India.

2. Hold Extraordinary General Meeting (EGM) of the shareholders of the Bank on March 29, 2011, for the purpose.