News Release

Mumbai, June 14, 2001

ICICI Bank Launches Multilingual ATM Transaction Screens

ICICI Bank (NYSE: IBN) owns the largest ATM network belonging to any single Bank in the country. Today, to coincide with the inauguration of its 541st ATM, ICICI Bank has launched yet another initiative on this channel.

When Ms. Lalita D Gupte, JMD & Chief Operating Officer, ICICI Ltd. inaugurated the ATM at Technopolis Park, Mumbai, she also launched the ATM screens featuring regional language options in Marathi and Hindi for facilitating ATM transactions. "This is another step in our constant endeavour to harness technology to bring financial services to the largest number of customers at affordable costs," Ms. Gupte said.

Speaking on the occasion, Ms. Chanda Kochhar, Executive Director, ICICI Bank said that "designing screen interfaces with local languages was a focussed effort on the part of the Bank to reach out to customers in small towns and semi-urban centres of the country." She added that, "the multiple language screens is one among the many initiatives of ICICI Bank in making the largest ATM network the most content rich and user friendly remote banking channel in the country."

The new screens are largely iconised and graphic with increased functionalities making it simpler for customers to operate the ATMs. As of now ICICI Bank has developed these screens in two regional languages i.e. Marathi and Hindi. In the course of time, multilingual screens will be developed in many more regional languages and launched across all ICICI Bank ATMs in the country in phases.

ICICI Bank, the banking arm of the ICICI Group services a growing customer base, currently at over 3 million customer accounts, through a multi-channel access strategy including more than 350 branches and offices, 541 ATMs, and Internet banking. ICICI Bank is one of the largest private sector Banks in India with a deposit base of Rs. 16,378 crore as on March 31, 2001. ICICI Bank listed its stock on the New York Stock Exchange through an issue of American Depositary Shares in March 2000, making it only the second financial services entity (first being ICICI Limited) to do so in India.

Except for the historical information contained herein, statements in this News Release which contain words or phrases such as 'will', 'would', and similar expressions or variations of such expressions may constitute 'forward-looking statements'. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our and ICICI's Group's ability to obtain statutory and regulatory approvals and to successfully implement our strategy, as well as other risks detailed in the reports filed by us with the United States Securities and Exchange Commission. The Bank undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.

For further press queries please contact:
ICICI: Mr Charudatta Deshpande
Head Corporate Communications,
Tel: 022-26538208
Fax: 022 26531116
email: charudatta.deshpande@icicibank.com