Interworld Digital Ltd: Outcome of Board Meeting

Interworld Digital Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 04, 2011, inter alia, has considered and approved the following:

1. The company is pleased to inform that 3D technology for Companies Digital Cinema business has successfully tested and installed at Kasturba Theater, Malad, Mumbai. More theaters will be upgraded into 3D Digital Cinemas in the coming months. The Board has approved the business model, which will be adopted w.e.f. May 06, 2011 with the release of first Indian 3D adult movie "Haunted" produced by Mahesh Bhat camp. The details of the business plan will be available after May 01, 2011.

2. The future business model is discussed and requires some more refinement hence will be finalized later.

3. Has issued 45,77,000 Equity Shares to the Person belonging to Promoter Group upon exercise of their right of conversion.

4. Alteration of Articles of Association of the Company by authorization to Board to capitalize the reserves from time to time, subject to the Members approval.

5. The Board has approved the offering of up to 3.50,00,000 warrants convertible in to equity shares on the Preferential basis pursuant to Section 81 (1A) of the Companies Act, 1956 to the various allottees including promoters and Promoter group, subject to approval of the Members of the Company.

To take shareholders approval for the aforesaid issue, Company Secretary has been authorized to finalize the Notice for the shareholders and to fix and declare the date of General meeting and other related work thereof.