Hotel Leelaventure Ltd has announced that the Board of Directors of the Company at its meeting held on August 02, 2012, have considered and approved the following :

 Issue of Equity Shares to a Promoter Group Company on Preferential Basis as per SEBI (ICDR) Regulations 2009.

The Board has approved, subject to the consent of the Members at the ensuing Annual General Meeting scheduled to be held on September 20, 2012, allotment of equity shares on Preferential Basis to a Promoter Group Company for an aggregate value not exceeding Rs. 1bn, including premium.

As per SEBI (ICDR) Regulations 2009, the relevant date for determining the issue price is August 21, 2012, being 30 days prior to the date of the ensuing Annual General Meeting.

Enabling resolution for raising funds upto Rs. 10bn

The Board has accorded its approval for an enabling resolution for raising of funds upto Rs. 10bn through issue of equity shares / convertible debentures / GDRs / ADRs and/or such other securities either through preferential issue and / or qualified institutional placement and / or private placement, etc. in one or more trenches at an appropriate time.

Demise of Mr. P. C. D. Nambiar, Non-Executive Independent Director and Chairman of the Audit Committee

It is with deep sadness that Hotel Leelaventure intimates the demise of Mr. P. C. D. Nambiar, Non- Executive Independent Director and Chairman of the Audit Committee on May 26, 2012. Mr. Nambiar joined the Board of the Company in 1986. As a distinguished banker with vast experience in National and International Ranking and Finance, he has made valuable contribution to the Company in his capacity as a director and the Company has benefitted significantly from his guidance.

Change In the Nominee Director on the Company’s Board

Anil Kumar Sharma has replaced Mr. Pawan Kumar Nagpal, as the new nominee of the Airports Authority of India on the Board of the Company.