Outcome of board meeting of Country Club Hospitality & Holidays

Held on 17 November 2014

Country Club India announced that the Board of Directors of the Company at its meeting held on 17 November 2014, inter alia, has transacted the following :

1. The Company is targeting a growth of 30% on consolidated year end earnings.

2. Focus on reducing debt by 30-35% either through Sale / JV of non-core assets or any other means available to the Company.

3. Updated on the completion of large part regular capital expenditure and no more major cash outflow for capital expenditure for the next 2 years.

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