ICICI Bank Ltd board meeting update

ICICI Bank Ltd has informed that the Board of Directors of the Bank at its meeting held on October 19, 2007, has elevated Ms. Chanda Kochhar, Deputy Managing Director as Joint Managing Director & Chief Financial Officer of ICICI Sank. She will be responsible for the Corporate Centre and will be the official spokesperson for ICICI Bank.

The Board of Directors has appointed Mr. Sonjoy Chatterjee, presently Managing Director & CEO of ICICI Bank UK plc as an Executive Director of ICICI Bank Ltd effective October 22, 2007, subject to approval of Reserve Bank of India (RBI) and other necessary approvals. He will take over responsibility for wholesale and international banking.

Mr. V Vaidyanathan, Executive Director will take over responsibility for rural banking in addition to his current responsibility for retail banking.

ICICI Lombard General Insurance Company (ICICI General), the Bank's general insurance subsidiary, has achieved robust growth and market share. In order to further strengthen the top management of this business in line with its growing scale, ICICI Bank and its joint venture partner, Fairfax, have decided to recommend to the Board of Directors of ICICI General the appointment of Ms. Vishakha Mulye, Group Chief Financial Officer as Executive Director on the Board of ICICI General, subject to necessary approvals.