ICICI Bank Online

ICICI has over the last few years made significant progress in creating a strong retail focus and building the personal financial services business. The most critical driver in the personal financial services business is the customer and ICICI has been making substantial efforts to strengthen its relationship with the customer. The first initiative in this process was to create a strong brand, which is a key to acceptance of products and services. The second initiative was to become a provider of the entire range of financial services. ICICI presently offers one of the most comprehensive portfolio for its customers to meet all their requirements across the life cycle. The third initiative was to build a technology enabled distribution network with multiple access points to provide ready access to all customers. As a result of all the above, ICICI has been successful in building a strong retail franchise with over 3 million retail investors and an established market presence.

Leveraging the Internet for the core financial services business

The Internet has transformed the dynamics of traditional markets with superior cost efficiencies, effective reach and customised services. ICICI believes that Internet access and information is the key to satisfying the needs of certain customer segments. ICICI intends to use the Internet to offer new innovative solutions to attract new customers and increase retention of customers. Accordingly, ICICI intends to expand customer base and enhance and enrich customer relationships by building portals across businesses to meet a wider range of customer needs. This is in line with strategies being followed by successful banks in developed markets. ICICI would be reaching out to retail customers in many innovative ways and has recently launched a housing portal indiahomeseek.com and a shopping mall magiccart.com. The launch of the City Portals is the third such initiative under this strategic focus.

Cafemumbai.com is the first of the Café India Series of city portals to be launched by ICICI this year

Cafemumbai.com is expected to become the 'Home on the Web' for each and every user related to Mumbai. Being dedicated to the local needs while providing a wide array of services makes it a uniquely focussed horizontal portal. ICICI believes that horizontal portals are going to be a first port of call for customers in the B2C segment. These efforts would help ICICI reinforce its customer franchise. These initiatives are also expected to build attractive valuations in each new entity.

Features of Cafemumbai.com

Cafemumbai has an easy, user friendly and attractive format and offers value-added information on weather, bus-routes, outbound travel schedules, essential services with an exhaustive and in-depth search facility to assist the Mumbaiite in his/her day-to-day living. This information spans hospitals, educational institutions, play-schools, restaurants and entertainment areas. Cafemumbai will also have articles of general interest, with largely original content covering various topics ranging from music to sports to legal to environment. The flavour of Cafemumbai reflects the positive and upbeat attitude that any Mumbaikar can identify with. The spirit in its entirety is captured by the various avatars of the mascot 'PEPS' making the cafemumbai journey a vibrant and colorful experience.

Being a guide to Mumbai City, Cafemumbai has dynamism of content and high level of interactivity. It will provide a refreshing experience to its users by offering a chance to interact with eminent Mumbai based personalities from different walks of life, each of whom will contribute their own version of what Mumbai has to offer. Going forward, Cafemumbai aims to build communities around specific interests, tastes, activities and interaction. CafeMumbai targets to build a feeling of community, by integrating Ratings, Reviews, Classifieds, Opinion Polls, Bulletin Boards and on-line forums.

CaféMumbai is one of the first sites in the country to have been developed using a one-to-one application software. The application helps in development and operation of dynamic, personalized one-to-one websites. Cafemumbai aims to attract and retain visitors by delivery of micro-targeted content based on their profiles. A cross-functional team comprising journalists, technologists and marketing specialists developed the site in 90 days.

Special Features

Cafemumbai facilitates home-delivery of food and booking of theatre tickets through program affiliates. Best Buys allows one to avail of the hottest bargains across a range of items. The smart search facility enables the user to plan his/her outing by automatically displaying other entertainment areas when searching on any one entertainment area. The other intelligent search, which has been provided for, is the yellow pages directory whereby if one is looking up the sports section then all sports related listings in the yellow pages are displayed. The event corner allows the user to plan his/her month and gives a comprehensive listing of the movies, plays, art exhibitions, music and other events planned in the city. One facility which will truly help the citizens is the provision of government forms including ration card, voting card application form etc. The ICICI Group would endeavor to provide financial fulfillment for a vast range of services through a variety of on-line financial products.

Except for the historical information contained herein, statements in this release which contain words or phrases such as "will", "aim", "will likely result", "believe", "expect", "will continue", "anticipate", "estimate", "intend", "plan", "contemplate", "seek to", "future", "objective", "goal", "project", "should", "will pursue" 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 ability to successfully implement various portals, our strategy, future levels of non-performing loans, our growth and expansion, the adequacy of our allowance for credit losses, technological changes, investment income, cash flow projections, our exposure to market risks as well as other risks detailed in the reports filed by ICICI Limited with the Securities and Exchange Commission of the United States. ICICI undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.

For further investor queries:

Contact: A.P Singh at 91-22-653 6262 or email at singhap@icici.com