PRESS RELEASE

In July 2007, the Group inducted new leadership and reaffirmed its objective of being a leading player in this space. They brought in Mr. Ajay Srinivasan from Prudential, Asia, as the Chief Executive, Financial Services, Aditya Birla Group.

The results for the year ended March 2008 show strong signs of momentum and growth being reflected in the performance across verticals with consolidated revenues of financial services crossing the one billion dollar mark:

Birla Sun Life Insurance

• Achieved a first year weighted annualised premium of Rs. 2,204 crore, as against Rs. 953 crore in the previous year
  • A growth of over 131 per cent — the highest in the industry
  • Improved market share considerably
  • Ranked number six amongst private sector players
• Revenue growth of 94 per cent to Rs. 4,012 crore, from Rs. 2,069 crore last year
• Launched 10 products in individual life segment and two in Group business segment
• An aggressive growth in customer contact points
  • Number of branches has grown from 137 to 339, with another 261 branches going on stream from Q1 2008-09
  • Number of agents has grown from 56, 000 to 115, 000, over the year
• Strong fund performance

Birla Sun Life Mutual Fund

• Assets under Management of Rs. 34,864 crore (as at 31 March 2008), as against Rs. 19,047 crore (1 April 2007) a growth of 83 per cent
  • Among the highest AUM growth in the industry
• Only fund house in the industry to show a positive growth in March 2008, over February 2008
• Ranked no. 5 in the industry
• Number of branches have grown from 32 to 78 over the year
• 18.90 lakh investor folios, an increase of over 65 per cent
• Won recognition for consistent performance across asset classes, from domestic and international platforms
  • ICRA Awards, Lipper Awards and CNBC TV 18 – CRISIL Awards
• Recognised as the Mutual Fund House of the Year by CNBC TV 18 – CRISIL

Birla Sun Life Distribution

• Ranked sixth in terms of assets under advice among mutual fund distributors ( up from 27th last year)
  • Assets under advice grew from Rs. 4,953 crore in March 2007 to Rs. 12, 242 crore in March 2008
• Entered distribution of life insurance
• Profit before tax up by 169 per cent over last year

Birla Global Finance

• Loan against securities portfolio grew to almost twice its size last year.
• Profit before tax at all time high at Rs. 37 crore

The Group believes it is well positioned to further capitalise on the many opportunities the financial sector affords. In recent times the Aditya Birla Financial Services Group, backed by the Group’s Best Employer Award, has attracted talent from across the globe.

Says Ajay Srinivasan, Chief Executive, Financial Services, Aditya Birla Group, “We would like to believe that our journey has just begun. Our vision is to be a role model across our businesses. And our customer’s preferred choice. Right now we are concentrating on building a firm foundation, with the help of our strong and committed team. Simultaneously, we are also making some key hirings, to aid our growth needs.”