The phenolic beta-diketones I prepared by modified Baker-Venkataraman rearrangement were converted to the flavones II in acidic medium which on treatment with aqueous ethylenediamine/propylenediamine gave diazepine derivatives Ill. After coupling with acetobromo sugars in the presence of mercuric cyanide and nitromethane, deacetylation in methanolic ammonia yielded nucleosides V. The structures of all the intermediates and final products were confirmed with the help of modern spectroscopic techniques.