Outcome of board meeting of IRB Infrastructure Developers

Held on 23 September 2015

IRB Infrastructure Developers announced that the Board of Directors of the Company at its meeting held on 23 September 2015, has approved :

1. Formation of Infrastructure Investment Trust ("the Trust") by the Company and to act as Sponsor of the Trust and;

2. Constitution of a committee of Directors to facilitate formation of the Trust and to deal with matters incidental and ancillary thereto;

3. Authorized aforesaid committee of Directors to transfer undertaking/s of the Company to the Trust.

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