News Release

'Beautiful Experience' of an ICICI Bank Canada Customer

Toronto, January 19, 2007 - ICICI Bank Canada took one lucky Canadian family around the world to Bollywood for their holidays.

Mrs. Christalyn Sangary, the Grand Prize Winner of the Meet and Greet Shah Rukh Khan Contest, opened a chequing account with ICICI Bank Canada and was automatically entered in the contest.

The contest ran from October 20 to November 30, 2006. Each customer that opened a chequing account through an ICICI Bank Branch during this period was automatically entered in a draw for round-trip travel and accommodations for two and a face-to-face meeting with Shah Rukh Khan in Film City, Mumbai. The contest draw was held on December 12, 2006.

Mrs. Sangary, who is the President of a property management company, was pleasantly surprised by the award. She opted to take her husband and son on this memorable trip.

The meeting between this Canadian family and Shah Rukh Khan was held on December 25, 2006. “Mr. Shah Rukh Khan plays many roles in his various movies and endorsements, but in person he came across as a very friendly, warm and down-to-earth gentleman,” she says. “He definitely won the affection of our five year old son, Joshua, within minutes.”

“After a whirlwind trip to India, we are back home in Canada and when I recollect the whole trip, I am thankful to God and ICICI Bank Canada for making this beautiful experience possible.”

This contest is not an unusual marketing approach for ICICI Bank Canada. The Bank has consistently offered unique promotions since it was launched in Canada in December 2003. The Bank currently has more than 100,000 customer accounts in Canada and a robust portfolio of commercial and corporate clients using its full suite of lending and risk management solutions, including operating and term loans, trade finance and foreign exchange.

Since inception, ICICI Bank Canada has consistently led the full-service direct banks in Canada by offering attractive high interest rates and unique banking options through its multi-channel strategy. The Branch network provides personalized service. Direct Banking offers the option of online banking for those who are not in close proximity of the branch network. ICICI Bank Canada also offers Assisted Banking to customers who bank under guidance from their Financial Advisors and Planners.

About ICICI Bank Canada:

ICICI Bank Canada, a wholly-owned subsidiary of ICICI Bank Limited, is a full-service direct bank with an asset base of over $1.70 billion, offering a comprehensive suite of personal, commercial and cross-border banking products and services. The Bank is supported by a state-of-the-art electronic banking platform (www.icicibank.ca), a 24-hour toll-free customer contact centre and proprietary ABMs. ICICI Bank Canada is a member of CDIC and has established its branch network in the Greater Toronto Area (Downtown Toronto, Brampton, Scarborough and Gerrard Street East) and Greater Vancouver Regional District (Downtown Vancouver and Surrey, B.C.).

About ICICI Bank Limited:

ICICI Bank Limited is India's second largest bank, and largest private sector bank, with an asset base of over $61 billion. ICICI Bank Limited serves a growing customer base of more than 17 million accounts through a multi-channel access network of over 620 branches and 2,680 ABMs, call centers and internet banking (www.icicibank.com). ICICI Bank Limited was awarded the "Best Bank in 2004" status in India by Business India - the Magazine of the Corporate World. ICICI Bank Limited has three wholly-owned subsidiaries: ICICI Bank UK Ltd., ICICI Bank Canada and Investitsiono-Kreditny Bank, Russia. The Bank has an Offshore Branch in Singapore and Bahrain, an Offshore Banking Unit at SEEPZ, Mumbai, a Branch in Sri Lanka and Hong Kong, and representative offices in Bahrain, Bangladesh, China, South Africa, United Arab Emirates and the United States of America.